image credit- freepik
Holista Colltech has entered into a binding Joint Venture (JV) agreement with Swang Chai Chuan (SCC) for the funding, development and operation of an ovine nano-collagen production facility in Collie, Western Australia. The JV will operate through Ovicoll, with an initial ownership structure of 50:50 between Holista and SCC.
SCC will contribute RM5,000,000 (approximately A$1.6 million) to fund commissioning and initial working capital requirements of the JV. As part of the commercial terms of the JV, Holista will make payments equivalent to 3% per annum on SCC’s initial funding contribution for a period of two years. Holista will retain ownership of all pre-existing and newly developed intellectual property, with the JV granted a licence to utilise this technology for its business.
The Collie facility is expected to provide a platform to produce high-value nano-collagen products for use in nutraceutical, food, cosmetic, and biomedical applications.
SCC is expected to play an active role in supporting the Joint Venture’s market development activities, leveraging its regional network and experience in distribution and consumer markets to facilitate product commercialisation.
