Sialo's share price rose 6.4% by early afternoon to NIS 1.40, giving a market cap of NIS 28 million.
Sialo Technology Israel Ltd. (TASE: SALO) has signed an exclusive distribution deal with ADC Company Israel Ltd. for Sialo's root canal and dental implant products in Russia, Ukraine and Kazakhstan. ADC has undertaken to sell 225 systems in the first three years, or else it will lose its exclusivity.
ADC will have to obtain regulatory approval to market Sialo's products in these countries.
Last month, Sialo announced its first $50,000 order for its dental endoscopes for root canal treatments and dental implants in Germany.
Sialo's share price rose 6.4% by early afternoon to NIS 1.40, giving a market cap of NIS 28 million.
Published by Globes [online], Israel business news - www.globes-online.com - on April 10, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011