Aliko Scientific SA (Euronext Growth Paris: ALIKO) announced a Memorandum of Understanding with BioBrasil to establish a joint venture for manufacturing FISH (Fluorescence In Situ Hybridization) probes in Brazil.
The Paris-based company, with a market cap of $28.6 million, has seen 81% revenue growth over the past year. The JV will be 51% owned by Aliko Scientific Brasil Ltda and 49% by BioBrasil.
Initially, the JV will use BioBrasil's existing manufacturing infrastructure. Later, a dedicated production facility may be established.
BioBrasil holds an option for distribution rights in Brazil and Mercosur, while Aliko Scientific retains exclusive international distribution rights.
The board will include representatives from both parties. Aliko Scientific will appoint the CEO and CFO, while BioBrasil will appoint the CSO and COO.
Time-to-market is estimated at approximately nine months, including production setup, validation, and certification.
Aliko Scientific, formerly Ikonisys SA, operates through subsidiaries including Ikonisys Inc. and Hospitex International.
