Novelix Pharmaceuticals Enters Agreement with German Partner for Astaxanthin Production Scale Up
Novelix Pharmaceuticals Ltd has signed an agreement with GMBU e.V., a company based in Halle (Saale), Germany, concerning the commercial-level production scale up of Astaxanthin. The deal focuses on leveraging Novelix's research facilities in Hyderabad, India, following the successful completion of pilot-scale manufacturing.The agreement outlines the steps for transitioning the Astaxanthin process to commercial capacity at the company's specialized research facilities. GMBU e.V., based in Germany, is the counterparty in this strategic partnership. The finalized agreement was dated June 2, 2026.
Details regarding the collaboration and its structure have been provided:
| Particulars | Details |
|---|---|
| Name of Parties | Novelix Pharmaceuticals Limited and GMBU e.V., Halle (Saale), Germany. |
| Date of Agreement | June 2, 2026. |
| Purpose | Production scale up of Astaxanthin at the company's research facilities in Hyderabad, India, to commercial level after successful pilot scale production. |
| Shareholding | The parties maintain nil shareholding in each other's entities. |
Key terms established during the agreement process include a review of potential conflicts and contractual rights.
The partnership is confirmed not to involve any related party transactions. Furthermore, neither Novelix nor its management structure is linked to any promoter group or related company of GMBU e.V. The agreement specifies that no special rights are held by either party, such as the right to appoint directors or first right subscription in the event of future share issuance.
The terms of the partnership confirm a straightforward production focus, ensuring both companies have clear roles regarding the Astaxanthin scale up initiative.
Stock Price Movement
Novelix Pharmaceuticals Ltd shares settled at ₹54.40 in post-market trading, edging up 3.28% for the day. The stock demonstrated considerable intraday volatility, moving between a low of ₹51.30 and an intraday high of ₹57.50.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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