08:56 AM EDT, 09/05/2024 (MT Newswires) -- Willow Biosciences ( CANSF ) on Thursday said it has signed a commercial license and royalty agreement with Kalsec, which produces natural ingredients for the food and beverage industry. Kaisec will use Willow's technology to scale and manufacture a natural ingredient for savory food applications.

Willow expects to receive milestone payments for the first pilot and industrial batches followed by tiered royalty payments on net worldwide sales after launch. Kalsec will be responsible for regulatory, manufacturing, and sales and marketing costs. Willow expects the research and development phase of the agreement to be completed this year, with regulatory and scale-up work to continue into 2025.