A new company has been established by the mutual collaboration of the two other companies, that is PENAO Company. It has been introduced by Beroni Group Limited and NSi (New South Innovations). NSi is a subordinate company of a University in Australia, University of New South Wales. The PENAO Company is responsible for the takeover of the process of the development of the drug.
60% of the shares are owned by the NSi and the rest of the 40% shares by Beroni as both companies are the shareholders of PENAO Company. For the progress of the clinical development of the anti-cancer drug and its commercialization, the licensing rights have to be transferred from Cystemix to PENAO. Moreover, the existing resources shall also be transferred. As soon as the funding is in place, the phase II clinical trial of the drug shall start.
This drug development is progressed because Beroni is constantly involved in fundraising for this initiative. Over a time period of 2 years, Beroni is planning to make a total investment of $9.45 million until phase II of the clinical trial has ended. An increase in the shares of Beroni will also be guaranteed by almost 11% in the PENAO Company.
Being listed on the USA OTC markets and the National Stock Exchange of Australia, Beroni is an international company associated with biotechnology. At the moment, many processes are being carried out here. Major businesses include doing cell therapy, development and introduction of new and advanced anti-cancer drugs, a suitable method of electrical commerce for the products and diagnosis of virulent diseases.
The goal which keeps Beroni Group striving harder is its aim to be one of the best in the field of biotechnology, industries of environmental science and living sciences. This makes it one of the most hardworking companies in the associated fields.