PharmAust (ASX:PAA)
Epichem CEO Colin La Galia (centre). Source: Epichem
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  • PharmAust’s (PAA) wholly owned subsidiary Epichem is awarded an extension to its current contract with Drugs for Neglected Diseases initiative
  • The renewal allows Epichem to continue providing its synthetic and medicinal chemistry expertise to support Drugs for Neglected Diseases initiative’s (DNDi) drug discovery projects
  • The extension is expected to generate up to $1.02 million in revenue for Epichem during the 2022 calendar year
  • The contract extension expires on December 31, 2022
  • PharmAust last traded at 9 cents on December 14

PharmAust’s (PAA) wholly owned subsidiary Epichem has been awarded an extension to its current contract with Drugs for Neglected Diseases initiative.

The contract renewal will enable Epichem to continue to provide its synthetic and medicinal chemistry expertise to support Drugs for Neglected Diseases initiative’s (DNDi) drug discovery projects.

DNDi is a not-for-profit working to research and develop new treatments for neglected diseases, such as human sleeping sickness, Chagas disease, malaria, paediatric HIV, hepatitis C, and river blindness. Since 2003, the initiative has developed eight treatments for five deadly diseases, saving millions of lives.

The extension is expected to generate up to $1.02 million in revenues for Epichem during the 2022 calendar year.

“We are delighted that the contract with DNDi has been renewed for another year and excited by what we can achieve together in partnership and collaboration to deliver the expected outcomes with our dedicated team of chemists,” said Epichem’s CEO Colin La Galia.

“This will mark our fourteenth consecutive year with DNDi supporting their important work and we look forward to continuing our longstanding and important relationship with them.”

The extended contract with DNDi expires on December 31, 2022.

PharmAust last traded at 9 cents per share on December 14.

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