Research-based Probi, headquartered in Lund in Sweden, has signed a licence agreement with the French dairy giant Danone, regarding the bacteria lactobacillusLp 299 v .
Under the terms of the agreement, Danone will have exclusive rights to use the bacteria in products on the global market, with the exception of Scandinavia and the UK where the Swedish dairy Skånemejerier holds the rights.
Probi anticipates that the long-term collaboration could bring royalty fees corresponding to €61million over the next ten years.
"This is a commercial breakthrough and a huge step in the strategy to secure our position among the leading biotechnology companies in the world within the probiotics arena," said Peter Zakrisson, chairman of Probi.
Looking ahead, Zakrisson added:"Now we will further intensify our efforts to equally successfully commercialise our two other business areas, dietary supplements and clinical nutrition."