09:07 AM EDT, 05/30/2024 (MT Newswires) -- Willow Biosciences ( CANSF ) , a biotechnology company, said Thursday that it signed a multi-product development and licensing partnership with Laurus Labs, a research-driven pharmaceutical and biotechnology company.

Under the partnership, Willow will deliver biobased processes for high-value Active Pharmaceutical Ingredients with existing markets, including Willow's BioOxi-based corticosteroid processes, for large-scale manufacturing, sales, and distribution at Laurus.

Willow and Laurus expect the first programs to reach commercial manufacture in 2025. Willow will use its artificial intelligence-driven technology platform and experience in enzyme, strain, and process engineering to deliver the processes.

Willow expects to earn significant annual revenues in research & development and royalties, including $4 million in guaranteed research & development payments in year one.

Upon commercialization of the APIs, Willow will receive an annual royalty based on worldwide sales.

The company's shares gained 6.3% in Canada yesterday.