Biome Australia (ASX:BIO) to develop new probiotic strains under landmark agreement

Biome Australia signed a landmark agreement with a key probiotic research and development partner to develop multiple novel probiotic strains.

The strains will be 100% owned by Biome, and development costs are capped at EUR €115,000 ($188,832) per strain.

The agreement also includes manufacturing support for fermenting the novel strains intended for commercialisation.

Biome is also developing a three-year strategic plan called Biome Vision 27, expected to be released in FY24.