Microba Life Sciences (ASX:MAP) agreed to transfer its non-core research services business to Denmark-headquartered microbiome genetic company Clinical Microbiomics, according to a Thursday filing with the Australian bourse.
The business registered AU$2.6 million in revenue in fiscal 2024 and operated on a cashflow breakeven basis.
Under the terms, the biotech company will retain its intellectual property and provide Clinical Microbiomics with certain transitional services for a fee.
Microba expects to receive up to AU$3 million in potential revenue over the next four years as a result of the transfer, the filing said.
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