Intimation of production scale up agreement.
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Novelix Pharmaceuticals has signed an agreement with GMBU e.V., a research organisation based in Halle (Saale), Germany, to scale up production of Astaxanthin (a natural antioxidant pigment commonly used in nutraceuticals and aquaculture) to commercial level. The production will take place at the company's research facilities in Hyderabad, India, following the successful completion of pilot-scale production. The agreement was executed on June 2, 2026. The company has clarified there is no shareholding between the parties, no special rights have been granted, and the agreement is not a related party transaction. No financial terms, order values, or revenue figures have been disclosed.
The agreement signals progress from pilot to commercial production of Astaxanthin, which could support future revenue streams, but with no financial details provided, the near-term impact on the stock or shareholders remains uncertain.