Both companies are now working on both the definitive agreement and product market launch.
() has signed a heads of agreement (HoA) with American Nutritional Corp Inc (ANC) to market its nutraceutical products.
ANC is a US entity with audited and approved manufacturing capabilities for several large, institutional US brands.
Under the HoA, the two companies will work towards executing definitive a commercial agreement.
READ: Medlab Clinical achieves over $3 million revenue for June quarter, shares rise
Medlab’s CEO Dr Sean Hall said: “having access to clients of this calibre and being able to tap into their supply chains is very exciting and a great opportunity to truly enter into the US nutraceutical market.
“It is our patents, research and strong clinical capabilities that makes us attractive.”
Further international expansion planned
In addition to the US, Medlab intends to consider other countries and areas to expand to.
Medlab sees an opportunity to expand the relationship with ANC and capitalise on their manufacturing capabilities, providing ongoing economies of scale for the local market.
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