Fish product 'will net £4m a year'
Oban-based GlycoMar has found a way to turn bits of leftover salmon from the fish processing industry into a medicine for easing joint pain.
The Scottish firm will be working with Scanbio, a Norwegian animal and fish feed supplier, which has a Scottish base near Fort William.
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Hide AdThe deal follows four years of research in GlycoMar's laboratories and small-scale trials at Scanbio's factories in Norway.
Dr Charlie Bavington, founder of the Scots firm, said: "We are very excited about this agreement, which is our first out- licensing deal in the nutritional sector.
"This is the outcome of several years' research in utilisation of fisheries by-products. We are particularly delighted to be collaborating with Scanbio, which we believe is the best partner to commercialise this technology."
Chris Jones, of Scanbio Scotland, added: "It will be the first product of its kind in the world to be made from a marine source."
Jones said he expected the as yet unnamed product will take about two years to bring to market. Financial terms were not disclosed.