• API Development Agreement executed with The State Government of Victoria
• Total consideration over AUD 2,000,000 over the twelve month term of the project
Australian pharmaceutical manufacturing and drug development company IDT Australia Limited (ASX:IDT) announces it has executed an Active Pharmaceutical Ingredient (API) Development Agreement with The State Government of Victoria (Victorian Government).
The exact details of both the API and the commercial terms are confidential between IDT and the Victorian Government, however the agreement extends for a period of up to twelve months and the total consideration IDT stands to receive from the project is in excess of $2,000,000.
“IDT has significant GMP facilities for the development and manufacture of APIs at its Boronia site, and is pleased to be undertaking this substantial project for the Victorian Government,” said Graeme Kaufman, Executive Chairman of IDT. “It enables us to build on our expertise in an exciting new field of drug development,” he added.
For further information please contact:
IDT Australia Limited
Graeme Kaufman
Executive Chairman
03 9801 8888
Monsoon Communications
Rudi Michelson
03 9620 3333
About IDT
IDT (ASX:IDT) is an Australian pharmaceutical manufacturing company based in Boronia, Victoria, Australia. It has extensive experience in the development and production of high potency and high containment pharmaceutical products for local and international clients. IDT’s facilities are fully cGMP compliant and are regularly audited by the US FDA and Australian TGA. With an experienced team of specialists within world-class facilities, IDT provides a full-scale service for new drug development and scale-up, commercial active drug manufacture as well as a variety of finished drug dose forms.
Monsoon Communications
Level 1, 121 Flinders Lane
Melbourne VIC 3000
Ph: 03 9620 3333
www.monsoon.com.au
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