On December 19, 2023, COMPEONY BioTech Canada Ltd. and BIOMA Health Ltd. formally entered into a Cooperative Research and Development Framework Agreement, marking an important step in advancing innovation in peony-derived nutritional products.

Under the agreement, COMPEONY BioTech Canada Ltd., a Canadian enterprise specializing in the production and distribution of peony seed oil products, has commissioned BIOMA Health Ltd., a research institution focused on the development of dietary supplements, to conduct research and development activities related to the extraction of Omega-3 from peony seed oil and the development of soft capsule products.

The cooperation leverages BIOMA Health Ltd.’s technical expertise and research facilities, while all intellectual property generated from the project will be owned by COMPEONY BioTech Canada Ltd., which will hold the exclusive rights to commercialize the resulting technology. The project timeline and milestones will be jointly determined by both parties.

This collaboration reflects the shared commitment of both organizations to scientific innovation, product development, and the advancement of high-quality peony-derived health solutions for the North American market.

Both companies have agreed to maintain strict confidentiality regarding proprietary and technical information exchanged during the course of the cooperation. Matters relating to compensation and payment will be governed by a separate agreement between the parties.