AFT Pharmaceuticals - Collaboration for developing birthmark medicine

AFT Pharmaceuticals has announced a collaboration and in-licensing agreement with Massey Ventures (the commercialisation arm of Massey University, New Zealand) and Gillies McIndoe Research Institute, New Zealand, to develop a topical treatment for strawberry birthmarks (infantile haemangiomas) in children. The licensing agreement involves the intellectual property (IP) related to initial research on the treatment and is in line with AFT’s strategy to grow its R&D pipeline by investing in new growth areas/opportunities. AFT plans to launch ~80 new products in Australia over the next three to four years. The development programme will be accommodated within AFT’s estimated R&D expenditure of NZ$12m in FY23.