Swedish coop dairy Skånemejerier has finalised negotiations with biotech group Probi over marketing rights to Probi’s patented Lactobacillus plantarum 299v, featured in Skånemejerier’s ProViva functional foods line.

Under the agreement, Probi will pay Skånemejerier SKr40m in cash to yield its rights to the patent outside the Nordic countries and the UK. Skånemejerier will also own royalities on sales outside these regions. In return, Skånemejerier would use its production know-how and product development expertise to the benefit of Probi.

Probi will now be able to seek partnership with a player with the financial muscle to market its patent in consumer products globally. Probi is looking to sell the product on markets in Europe, the US and in Japan, and is also exploring new product applications for its patented bacteria culture.

Probi shares are listed on the unofficial SBI-list in Stockholm. Largest shareholder is H&B Capital with Skånemejerier second largest shareholder with 14.5% of the shares.

By just-food.com correspondent based in Scandinavia