Press release March 18, 2020
Bio-Works has signed a three-year supply agreement with a customer in Eastern Europe.
Bio-Works Technologies has signed a supply agreement with one of its production customers in Eastern Europe. The agreement runs for three years with a total order value of a minimum of 238 k€ over the period until 2022.
In recent years Bio-Works has succesfully expanded its presence in the Eastern European region and has several customers that purchase purification resins on a regular basis for their production.
Previously we have received regular orders from this particular customer and they now wish to secure their longer term supply with this agreement covering quarterly supply over three years. This is the first agreement of its kind for Bio-Works that is valid for several years and is an example of how we develop long term relationships with our customers and build their confidence in Bio-Works products.
Bio-Works’ third generation proprietary agarose resins, WorkBeads™, are specifically developed with commercial scale manufacturing of valuable biomolecules in mind. The growing requests for multi-year agreements underpins the strategic relevance, performance and need for our products in this market. The agreement validates our strategy to establish an early project relationship with our customers and thus generating long term, secure, regular and increasing cash flow from customers as they scale-up their production.
“Bio-Works‘ goal is to be a strong alternative for biopharmaceutical manufacturing customers worldwide and this agreement confirms, once again, that customers see us as a competitive alternative”, says Mats Johnson, Bio-Works’ CEO.
The information in this press release is such that Bio-Works Technologies AB (publ) is obliged to publish in accordance with EU Regulation on Market Abuse (MAR). The information was submitted for publication through the agency of above contact persons for publication on 18 March 2020 at 09:00 a.m. CEST.