Nano Dotz teams with Greek co TheraCell

Biotech  credit: Shutterstock angellodeco

The companies will collaborate on a project using Dotz Nano's technology for marking disposable bioprocessing consumables.

The share price of Israeli company Dotz Nano (ASX: DTZ) 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.

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).

Published by Globes, Israel business news - en.globes.co.il - on April 12, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Biotech  credit: Shutterstock angellodeco
Biotech credit: Shutterstock angellodeco
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