Danone Research and Micropharma Establish Partnership for Cardiovascular Research
Micropharma will provide expertise combined with their patented technology in cardiovascular health, while Danone Research will bring its experience, market knowledge and equity financing of US$8 million.
18 May 2010 --- Danone Research, a unit of Danone involving more than 1,200 employees worldwide, have reached a partnership agreement with Micropharma Limited, a Canadian firm specializing in biological sciences, to develop new technologies in cholesterol reduction for dairy products.
Micropharma will provide expertise combined with their patented technology in cardiovascular health, while Danone Research will bring its experience, market knowledge and equity financing of US$8 million.
Ryan Elliott Jones, President and Chief Executive Officer of Micropharma, commented: "Danone's $8-million investment in Canadian biological sciences is significant. For Micropharma, Danone Research is the ideal partner. We are excited about the prospects for 2010, a year in which we will work to support our ambitious research and development program, secure new partnerships and patents, and increase our emphasis on product and business development."
Frédéric René, Vice-President, R&D Dairy, added: "Inspired by its mission, Danone Research attaches great importance to cardiovascular health. For this reason, we are proud to invest in Micropharma, an innovative company that conducts promising research in this field."
Danone Research's involvement goes beyond financing
Danone Research's involvement in this partnership goes well beyond financing. Micropharma can count on the experience and expertise of Danone's senior executives, which will serve not only on the Board of Directors but also the scientific committee.
In the coming months, Micropharma and Danone Research will be working closely to develop a new marketable product. The injection of capital will allow greater financial flexibility to support Micropharma's research and activities in cardiovascular health and to develop other innovative projects.
