- Ceapro (TSXV:CZO) has announced an extension to its agreement with German-based Symrise AG
- The existing agreement includes the distribution of Ceapro’s active ingredients to major key international players in the cosmetics industry
- The agreement has been extended to the end of December 2026
- Shares of Ceapro are down 1.14 per cent to C$0.44 as of 10:59 a.m. ET
Ceapro (TSXV:CZO) has extended its agreement with German-based Symrise AG for the distribution and commercialization of its active ingredients to major key international players in the cosmetics industry.
In a news release, the Edmonton-based biotechnology company said that its agreement with Symrise has been extended from three years to five years, pushing the extension until the end of December 2026.
“Given the changes and new trends in the marketplace, this agreement not only provides additional security for our ongoing cosmeceuticals base business but will also enable continued development and offering of new products like a new powder formulation of oat beta glucan on which both organizations have worked over the last months,” Gilles Gagnon, CEO of Ceapro, said in a statement.
Although the financial terms of the agreement were not been disclosed, Symrise will purchase minimum annual volumes of Ceapro’s ingredients.
Symrise is a global supplier of fragrances, flavors, food, nutrition and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food.
Shares of Ceapro are down 1.14 per cent to C$0.44 as of 10:59 a.m. ET.
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