Argent BioPharma (ASX:RGT) has signed an agreement with Dr Shlomo Sadoun granting him exclusive rights to facilitate a commercial transaction for the company's Malta-based GMP-certified manufacturing facility.
Under the agreement, Dr Sadoun will have a three-month exclusivity period to introduce a potential investment, contract manufacturing, or supply and distribution deal that meets several conditions. These are that the transaction must not negatively impact Argent BioPharma’s relationship with Maltese government authorities, the minimum consideration for the company will be at least US$1 million, payable from profits generated by the counterparty, any final agreement will require its approval, and the company will retain the ability to produce its product portfolio in Malta at cost following the deal.
Argent BioPharma said that during the exclusivity period, it remains committed to maintaining the licenses and regulatory approvals for the Malta-based manufacturing facility, ensuring minimal operational activity to support potential transactions. It said the agreement aligns with its broader strategic initiative to optimise its global manufacturing operations and unlock new commercial opportunities through strategic partnerships and asset optimisation.
Following the recent collaboration agreement with ECCPharm, Argent BioPharma said it intends to transition the manufacturing of its proprietary portfolio to ECCPharm's EU-GMP-certified facility.
With its EU-GMP-certified Malta facility now available, Argent BioPharma is actively repositioning the site as a Contract Manufacturing Operations (CMO) service, catering to pharmaceutical companies seeking a specialised, cost-effective, and boutique liquid dose manufacturing solution within the EU.
Roby Zomer, the CEO and managing director of Argent BioPharma, said, "We are pleased to engage Dr. Sadoun to explore strategic options for our Malta-based manufacturing facility. This agreement provides a structured framework to assess opportunities that align with our long-term vision while ensuring value for shareholders. We look forward to evaluating potential transactions that enhance our operational and financial position."
Dr Sadoun, CEO of SK-Pharma and exclusive facilitator of the Malta facility transaction, added, "I am excited to collaborate with Argent BioPharma in unlocking the full potential of its EU-GMP-certified Malta facility. This site presents a unique opportunity for pharmaceutical companies seeking a cost-efficient, high-quality liquid-dose manufacturing solution within the EU. With Argent’s strategic shift towards clinical development and regulatory expansion, transforming this facility into a contract manufacturing hub will create significant value for both Argent and potential industry partners."