(Yicai Global) Oct. 25 -- Chinese medical firm By-Health will join hands with Australian biotech company Bioiberica to develop new products for bone and joint care together through the use of effective ingredients from animals.

The two parties have inked a cooperation agreement and will also work together on research related to function mechanisms, the Guangdong-based company said in a statement.

Under the deal, the pair will collaborate using collagen and cockscomb flower extract, for which the Australian company holds intellectual property rights, to develop new products for bone and joint care.

In addition, the two parties will cooperate on the research and development to extract new ingredients for use in health care.

Bioiberica is a global biopharmaceutical company which specializes in extracting bio-molecules of high therapeutic value from animals for use in medical care, healthcare, animal and plant nutrition products.

Editor: William Clegg