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Australia-based AI-enabled pharmaceutical company Algorae Pharmaceuticals has entered into a binding term sheet with Cadila Pharmaceuticals Limited, one of India’s largest privately held pharmaceutical companies, for a proposed license and supply agreement.
Under the proposed agreement, Algorae will launch two generic medicines in the Australian and New Zealand markets, targeting key therapeutic areas including cardiovascular and metabolic disorders.
Both companies will now work towards executing a definitive License and Supply Agreement (LSA), which will formalise the operational framework of the partnership. Following execution of the LSA, Algorae will commence Therapeutic Goods Administration (TGA) registration planning and documentation to enable product commercialisation and will update shareholders on approval timelines and anticipated revenue contributions as the program advances.
Cadila Pharmaceuticals, headquartered in Ahmedabad, India, operates manufacturing facilities accredited by global regulators including the US FDA, EU, MHRA (UK), WHO, and TGA. Its products are distributed in over 100 countries and supported by a workforce of more than 9,000 professionals. Algorae representatives recently met with senior management and technical teams at Cadila’s Ahmedabad headquarters.
