InterMed Discovery/Biotropics in equity deal
The German natural product lead-discovery company, Intermed Discovery (IMD - Dortmund), has finalised an equity transaction worth €7.4 million ($9.8 million) with Malaysian herbal-based products promoter, Biotropics Malaysia (Kuala Lumpur). The agreement “solidifies a minority stake held by Biotropics in IMD”, the German company reports. IMD will invest money raised by the equity transaction in the discovery and development of “further functional ingredients” and in its pharmaceutical pipeline. Biotopics will gain access to IMD’s natural product database and technology to identify, develop and market suitable natural active ingredients exclusively in key markets, including the US and Europe. IMD and Biotropics entered into a long-term strategic co-operation agreement in September last year ( Agrow No 553, p 6).