Biocidium Biopharmaceuticals Inc. announced that it has granted Contego Antimicrobials Inc. exclusive worldwide rights to patents and know-how related to its proprietary antimicrobial K-yur 001 additive to be used in all non-medical applications.
Contego, a biotechnology company pursuing unique antimicrobials, has licensed rights to develop and commercialize the K-yur additive to be use in a wide range of products including paper, plastics, paint and coatings, cleaners, etc. The use of the additive is exclusive of applications related to health including wound care, topical, oral, IV, antibiotics, soaps, personal care products, etc. Biocidium will receive an equity position in Contego, as well as royalties and milestone payments.
Extensive pre-clinical trials have proven Biocidium’s K-yur 001 is 99.999% effective against MRSA, CRE, VRE, E. coli, etc. Biocidium has shown the effectiveness of adding the K-yur 001 compound into a wide range of materials to enhance the ability of the material to eliminate bacteria, etc.
This transaction with Conego is another example of our successful satellite company partnering program. Through these relationships, we are expanding the reach and potential of our research programs and participating in the success of multiple companies and products.