Israel-headquartered eSense-Lab (ASX: ESE) will expand its healthcare offering further after signing a letter of intent with private marine biotech company SeaLaria to produce antiviral hand sanitisers.
The agreement paves the way for the companies to develop new products that combine eSense’s terpene strains with SeaLaria’s gelatinised red algae.
Initially, the duo will focus on producing antiviral hand sanitisers that are infused with terpenes to boost the antiviral potency, while reducing the alcohol content that is in current sanitisers and related products.
According to eSense chief technology officer Dr Eyal Kalo, the lab teams from both companies have already formulated the first experimental batch of a gel-based, alcohol-free sanitiser.
eSense is currently evaluating the preliminary results.
Additionally, both companies are developing an ointment that will combine the gelatinised algae with eSense’s best anti-inflammatory and anti-proliferative terpene blends.
As part of this, eSenese will collaborate with hospital-based dermatology key opinion leaders to evaluate the impact of the combined formula on skin disorders.
eSense chief executive officer Itzik Mizrahi said the company had looked into a possible collaboration with SeaLaria “for sometime”.
However, the rising demand for hand sanitisers has prompted the duo to prioritise the potential development of “more effective products” to meet consumer requirements.
“I believe this joint venture will also produce other high efficiency products, leveraging both our companies’ expertise,” Mr Mizrahi added.
New commercialisation structure
eSense is evaluating a new commercialisation structure that involves securing joint venture agreements such as the one with SeaLaria to produce products for multiple markets.
The company is focusing on finding new and evidence-based applications for its terpenes in medicine, wellness, cosmetic and nutritional sectors.
eSense hopes to leverage its joint venture partner’s existing experience in sales, marketing and distribution to facilitate commercialisation of the new products.
It is expected recently appointed Mr Mizrahi will lead the company through this process with his experience in global big farmer including his previous role as head of clinical with Pfizer Pharmaceuticals Israel.