TGR/Nanyang deal
TGR BioSciences has received an equity investment from the Nanyang Innovation Fund managed by Nanyang Ventures (Nanyang). Nanyang will progressively invest up to $3 million into TGR, subject to TGR meeting certain milestones.
The Nanyang investment followed the in-licensing by TGR of additional Whey Growth Factor Extract (WGFE) technology from GroPep. This arrangement expands on WGFE intellectual property previously licensed to TGR and strengthens TGR's business opportunities in nutraceutical and pharmaceutical products for skin and gut health.
Nanyang's investment funds will be used to support development of TGR's product pipeline in the areas of gut and skin health including the further clinical development of WGFE as TGR's proprietary treatment for oral mucositis, an extremely painful side effect of cancer treatments. TGR plans to commence a phase II clinical trial of WGFE in mucositis patients within the next 12 months.
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