Algorae Pharmaceuticals Ltd (ASX: 1AI) has executed a binding term sheet with Cadila Pharmaceuticals Limited for a proposed license and supply agreement covering Australia and New Zealand. The partnership would see Algorae launch two generic medicines targeting cardiovascular and metabolic disorders, with next steps focused on finalising a definitive agreement and preparing for TGA registration.

Algorae Pharmaceuticals Ltd (ASX: 1AI) has taken a major step toward establishing a commercial presence in the Australian and New Zealand markets. The company has entered into an exclusive licensing agreement with global pharmaceutical manufacturer Sakar Healthcare Limited (NSE: SAKAR, BSE: 538377) (Figure 1) to launch five oncology medicines across the region.