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Algae.Tec gains stake in Australian pharmaceutical delivery company

February 16th, 2018 | No Comments | Posted in Algae Pharmaceuticals, Alliances

Plant-based health and wellbeing company Algae.Tec (ASX: AEB) has inked a binding heads of agreement to acquire a 19.9% stake in Australian pharmaceutical company NS Technologies Pty Ltd.

Under the deal, Algae.Tec will also exclusively license NS Technologies’ patented delivery platform technology for use across any medical application developed by Algae.Tec.

Algae.Tec has agreed to pay an initial cash consideration of A$100,000, plus the balance of 25 million ordinary shares and 25 million three-year share options to be issued at a later date.

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