Premier Biomedical Inc., a biotech research public company, and Auramedi Farmacêutica Ltda., a Brazilian pharmaceutical company, last week announced the signing of a non-binding letter of intent to explore forming a possible joint venture in Brazil.
The alliance would facilitate development of Premier’s various treatment technologies and provide oversight of the manufacture and distribution of the drugs and devices in the South American market.
“We are very excited to embark on this relationship with such a dedicated pharmaceutical company as Auramedi,” Premier Biomedical CEO and President William Hartman said. “We expect that the resulting (joint venture) will be beneficial not only to Premier and Auramedi, but to the patients in Brazil and South America suffering from hard to cure or previously incurable diseases for which we are working very hard to bring effective treatments to market.”
The creation of this joint venture is expected to advance the approval, manufacture, sales and distribution of Premier’s proprietary treatments.
“The anticipated joint venture meets our goals relative to technology transfer, research and manufacturing of innovative products and treatments in Brazil, and will contribute significantly to saving lives and improving the quality of life for patients in our country and South America,” Auramedi Director Telesforo Cáceres said. “The joint venture is expected to allow Auramedi to participate in markets that are estimated in Brazil at around $600 million today, and currently lacking therapeutic innovations.”