Nuritas, a Dublin-based biotechnology start-up, has announced a collaboration deal with Germany's BASF Human Nutrition.
Nuritas looks to identify components hidden within everyday food which can be isolated and used as the basis for new medicines.
Last month it announced plans to triple its workforce between now and the end of 2017. It also said that its expansion plans were supported by Bono and The Edge - of U2 fame - as they had become investors in the company.
The agreement with BASF will see the commercialisation and discovery of health benefits bioactive peptide networks within specific target areas of significant value. These health benefits include anti-inflammatory activities.
Under the deal, Nuritas will grant an exclusive, royalty-based license to BASF to commercialise one of its existing peptides across a number of applications.
The company's CEO Emmet Browne said it was delighted to be working with a company of BASF's status, global reach and business acumen.
"As a young disruptive company, this agreement further accelerates our vision of improving the lives of billions of people worldwide through the predicted discovery of bioactive peptides," he added.
