Singapore, Oct. 21 -- Australia-based AI-enabled pharmaceutical company Algorae Pharmaceuticals has entered into a binding term sheet with Cadila Pharmaceuticals Limited, one of India's largest privately held pharmaceutical companies, for a proposed license and supply agreement.

Under the proposed agreement, Algorae will launch two generic medicines in the Australian and New Zealand markets, targeting key therapeutic areas including cardiovascular and metabolic disorders.

Both companies will now work towards executing a definitive License and Supply Agreement (LSA), which will formalise the operational framework of the partnership. Following execution of the LSA, Algorae will commence Therapeutic Goods Administration (TGA) registration ...