Vecoy Nanomedicines Ltd. and Enzootic Ltd. have signed a commercial cooperation agreement under which Vecoy will deploy its nano-scale virus traps in aquaculture in exchange for royalties from Enzootic if the product reaches market.
Vecoy has developed a proprietary method for killing viruses - a piece of DNA that traps viruses by imitating a cell, which the virus penetrates to reproduce, but where it is trapped, and cannot reproduce or reenter the bloodstream.
The product is under development for use in humans, but Enzootic approached Vecoy to jointly develop the nano-traps to fight crustacean viruses. Enzootic has developed innovative methods for increasing aquaculture yields, with an emphasis on crustacean aquaculture, which account for 10% of total acquaculture produce. Enzootic has several technologies for boosting aquaculture yields, and is adding a medical tool acquired from a company developing treatments for human diseases to its product line.
The global aquaculture industry produces more than 60 million tons a year of products, including fish, shrimps, clams, and seaweed, worth $130 billion a year. Viral outbreaks have cost the industry tens of billions of dollars in recent decades.
Published by Globes [online], Israel business news - www.globes-online.com - on September 16, 2013
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