Symrise (Holzminden, Germany) has announced its strategic partnership with Cambridge Theranostics Ltd. (Cambridge, UK). As part of the agreement, Symrise will contribute up to €8 million in milestone-related payments towards the development and clinical evaluation of new health and medical food products. The partners will share the profits on products resulting from the collaboration. In addition, Symrise has invested €2 million in capital into Cambridge Theranostics, which specializes in the diagnostics and prophylaxis of cardiovascular diseases.
Cambridge Theranostics will use its proprietary screen to select natural products from Symrise’s libraries to identify high value compounds that can best protect plasma lipoproteins from oxidative damage and afford effective protection against cardiovascular diseases. Cambridge Theranostics will then perform pharmacokinetic and clinical studies with the aim of launching two products by the year 2010.
Of the agreement, Symrise CEO Gerold Linzbach said, “This alliance will enable us to enter our active ingredients into the high value healthcare sector. It is the next logical step in implementing our growth strategy by offering intelligent products which have an added value for consumers.”