Byotrol signs deal with Fortune 150 firm
MANCHESTER-based infection control products firm Byotrol has said that joint venture company Byotrol Consumer Products has signed a major development deal with a Fortune 150 company.
The nine-month deal will see BCP receive between $500,000 and $1m in upfront payments plus potential further windfalls through milestone-based payments to help develop a new consumer products division.
In return, the Fortune 150 company will gain exclusivity over certain consumer markets and product ranges globally.
Byotrol said that the deal follows on from an option agreement signed by both parties around 18 months ago and is complementary to those recently signed with Robert McBride Group, PZ Cussons and Tommee Tippee.
Byotrol CEO Gary Millar said: “This contract is a landmark deal for the business both in terms of its commercial potential and the collaborative nature of the joint development agreement.
“Our strategy recognises that the full potential for Byotrol will be best achieved by working closely in partnership with leading companies and this agreement is an important step towards bringing Byotrol to consumers globally.
“I am very pleased to add that negotiations in reaching this agreement have been extremely positive; our partners in this have made a significant commitment of capital, management time and resource in developing Byotrol based products under their brand label.”
