Australia's Exopharm rises on agreement with Astellas

Entropy Neurodynamics

31/01/2022 01:20

** Shares of Exopharm Ltd  EX1.AX  rises as much as 5.8% to
A$0.455, their highest since Jan. 21
    ** Biopharma co announces a services deal with Astellas
Institute for Regenerative Medicine, a unit of Astellas Pharma
 4503.T   
    ** Initial services will seek to validate co's LEAP, LOAD
and EVPS technology platforms to manufacture exosomes for
Astellas, firstly at Exopharm's facilities in Melbourne followed
by the Astellas facilities in Massachusetts USA
    ** Exopharm says Astellas is keen to evaluate whether
exosomes could become part of their future product pipeline 
    ** Exosomes are nano-sized particles that are used as an
alternative means of drug delivery inside the body
    ** Co says AIRM to pay fees up to $481,000 for the projects
over 15 months, starting March 2022
    ** Stock had fallen 9.65% in 2021

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))