• Exclusive 12-month strategic collaboration to co-develop a solution combining Vitrafy's cryopreservation technology with IMV's global platform
• Vitrafy to receive recurring monthly fees and milestone payments up to A$930k
• Partnership provides access to a significant share of the animal reproduction market

Vitrafy Life Sciences Limited (ASX: VFY) has announced a strategic, commercial agreement with global leader IMV Technologies ('IMV') to work on animal reproduction cryopreservation. The 12-month exclusive collaboration will see the two companies co-develop a solution that combines Vitrafy's next-generation cryopreservation technology with IMV's globally recognised platform. This partnership will accelerate Vitrafy's access to the animal market at scale, for its entire product suite, via a trusted partner. During the 12-month term, Vitrafy and IMV will undertake development and validation testing across aquaculture, bovine and porcine, integration of the two product suites, and detailed commercial analysis to take the product to market. Vitrafy will receive a recurring monthly fee for the provision of its cryopreservation technology, totalling up to approximately A$480k over the 12-month term, as well as further payments of up to A$450k for the successful achievement of pre-determined milestones. The agreement may be extended for a further 6 months. This partnership validates the use of Vitrafy's technology in a commercial setting, leverages IMV's significant expertise in this market, provides Vitrafy access to a significant share of the animal reproduction market, and allows Vitrafy to focus on the high growth human health market in the US.

The partnership with IMV is expected to provide Vitrafy with recurring revenue and access to the animal reproduction market, while allowing the company to focus on the high growth human health market in the US.