Recoly's subsidiary, Zilip-Pharma B.V., signed a license agreement with Bayer HealthCare, LLC., Biological Products (BP) division. Recoly is actively seeking collaboration agreements with major pharmaceutical companies for the development and commercialization of liposome-formulated protein or peptide products. The overall aim of such collaboration is to develop superior liposomal formulations of proteins/peptides. The anticipated improvements foreseen in the development of liposome-formulated protein/peptide include:

1. Improved Efficacy - Based on our previous results we anticipate that formulation with liposomes will result in higher concentration in organs and longer half-life resulting in improved therapeutic activity following administration.
   
   
2. Improved Protein Pharmacokinetics - The liposome formulation will slow protein clearance resulting in a longer half-life of the drug in the body and reducing the required frequency of injections to patients.