Vivione Biosciences (TSX-V:VBI, StockForum), a Little Rock Arkansas-based life sciences diagnostic firm, announced today that the company had signed a Memorandum of Understanding (“MOU”) with South Korean biotech entity, AriBio, for a strategic alliance between the two companies.
This alliance is anticipated to combine Vivione's strengths in the areas of rapid diagnostics and its news silico modeling technology (“Molecular Design”) with AriBio's considerable experience in drug design and testing.
Vivione is a biosciences company focused on the commercialization of its proprietary RAPID-B diagnostic platform; an integrated system of hardware, software and chemical reagents that quickly and accurately identify, quantify and qualify bacteria and other pathogens in key food & water safety, clinical, industrial and oil & gas environments.
AriBio is a South Korean biotech company focused in drug development for various diseases with unmet medical needs and its business areas also are involved in stem cell for regenerative medicine, cosmetics, functional dietary supplements and natural mineral water.
According to the news release, “Building on the Cooperative Research and Development Agreement that was signed with the FDA last year, this partnership marks another milestone for Vivione as being its first prospective alliance with a drug development company.”
It went on to explain, “The alliance could benefit AriBio by accelerating the drug development process via specific Vivione intellectual property, Molecular Design, which has the potential to enable accurate computer modeling of the efficacy and potential toxicities of compounds.”
Then summed up, “Vivione expects the alliance will expand their food safety footprint beyond the frontline product, the RAPID-B diagnostic platform, and into companion clinical diagnostics with the potential for growth opportunities in the Asian market.”
AriBio CEO, Soo-Hyun Sung commented on the agreement, “We are excited to execute an MOU with Vivione, as they have a number of potentially game changing technologies. This strategic alliance also recognizes AriBio's capabilities in efficient drug development in various disease areas including psychosis and infection.”
Kevin Kuykendall, Vivione CEO, added, “We see this as a win-win for both companies.”
He then concluded, “AriBio can assist Vivione with accessing the lucrative Asian market and Vivione can help AriBio with companion diagnostics and in silico compound design."
Vivione Biosciences was in the news recently when the company announced the appointed of officers at the end of January.
Currently there are 36.4m outstanding shares with a market cap of $7.4 million.
FULL DISCLOSURE: Vivione Biosciences is a Stockhouse Publishing client.