For the past two years Dr Akihiro Aioi from Septem Soken has been investigating the potential for new products through the Eskitis Institute's unique biodiscovery resource, Nature Bank.
Located at Griffith's Nathan campus, Nature Bank comprises a collection of more than 45,000 samples of plants and marine invertebrates, 200,000 semi-purified fractions and 3,250 pure compounds isolated from these organisms which have been collected in Australia, China and Papua New Guinea.
Director of the Eskitis Institute Professor Ronald J Quinn AM said the three year extension to the agreement would allow further progress in what are already promising research projects.
"During the first phase of the project, researchers found three Queensland plants with interesting biological properties which could be useful ingredients in cosmetics, skin care products and functional foods," Professor Quinn said.
"This is the first time Nature Bank has been screened for compounds that could be used in products other than drugs.'
Functional foods have beneficial effects on human health because they are high in antioxidants, or vitamin enriched. The company is also searching Nature Bank for compounds that could be used in sunscreens and medicated creams.
Pro Vice Chancellor of Griffith Sciences, Professor Debra Henly took part in a signing ceremony with Septem Soken Representative Director, Mr Yousuke Yamashita, at the Eskitis Institute.
"We are very pleased that Septem Soken has chosen to work with us because they can access Nature Bank, and use our unique resource to develop natural products that are highly appealing to consumers who want to ensure they use cosmetics that are sourced from nature," Professor Henly said.
"We look forward to helping the company develop future discoveries into new products."
Griffith University and Eskitis has in place a Collaboration and Licence Agreement, which ensures that Griffith earns a royalty from any products made by Septem Soken resulting from their access to Nature Bank.
Under the Queensland Government's biodiscovery legislation, all Queenslanders will benefit from this agreement as Griffith will pay a proportion of any proceeds to the Government.
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