Nano Dotz teams with Greek co TheraCell
By Trend
The share price of Israeli company Dotz Nano jumped by 9% on the Australian Securities Exchange today, after the company reported a new contract that it says will yield at least $5 million revenue in the first year, Trend reports with reference to Globes.
Kfar Sava-based Dotz Nano develops, produces and sells carbon-based materials used for tracing, anti-counterfeiting and product-liability solutions.
The company reported that it had signed an agreement with Greek company TheraCell Labs, a subsidiary of Orgenesis Inc., which is traded on Nasdaq at a market cap of $80 million. The companies will collaborate on a project in which Dotz Nano will provide its technology for marking disposable bioprocessing consumables.
The companies will also collaborate on developing an identification standard to tag patient-derived cells. If the project results in a successful commercial product, TheraCell will pay Dotz Nano 5% of the sales revenue.
Dotz Nano has a current share price of A$0.365, which compares with A$0.20 when it was merged into an Australian stock market shell company and became public in 2016. Its market cap is A$147 million (NIS 353 million).
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