UTEK and Gadot Announce Strategic Alliance
In line with its strategic goal to develop innovative solutions for the fortification and supplement industry, Gadot is seeking new technologies to produce new health ingredients as well as to improve its current production processes.
20/07/06 UTEK Corporation, a specialty finance company focused on technology transfer, and Gadot Biochemical Industries, Ltd., a leading manufacturer of ingredients and fine chemicals for the food & beverage, cosmetic, detergent and pharmaceutical industries, have announced that they have signed a strategic alliance agreement.
In line with its strategic goal to develop innovative solutions for the fortification and supplement industry, Gadot is seeking new technologies to produce new health ingredients as well as to improve its current production processes.
“Product differentiation innovation has been an integral part of our company’s efforts to enhance its presence in the mineral fortification and supplement market. We are enthusiastic about forming a strategic alliance with UTEK which we believe will enable us to identify synergistic technology acquisition opportunities related to our business,” commented Yacov Zack, Chief Executive Officer of Gadot Biochemical Industries, Ltd.
“UTEK looks forward to working with Gadot Biochemical Industries, Ltd. to identify potential technology acquisition opportunities that fit its strategic vision,” commented Clifford M. Gross, Ph.D., Chief Executive Officer of UTEK Corporation.
Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.
