Immuron (ASX:IMC) partnered with Monash University to develop new therapeutic drug candidates targeting antimicrobial-resistant pathogens, according to a Wednesday filing with the Australian bourse.

The collaboration will involve the Biomedicine Discovery Institute research team and make use of the Immuron technology platform, the filing said.

The parties will negotiate whether to jointly develop or commercialize the outcomes of the research collaboration on commercially reasonable terms after the results are known, per the filing.

Shares fell past 12% in afternoon trade Wednesday.