Nanologica Delivers Silica to Customer in China to a Value of TSEK 930
Nanologica’s Chinese distributor Yunbo Technology has made another call-off against the agreement previously signed for the delivery of silica worth USD 14 million over a six-year period. This call-off amounts to approximately SEK 930 thousand.
The delivery is the fourth that Nanologica has made since the company approved its silica-based media for preparative chromatography, NLAB Saga®. The order for this delivery was taken in 2022 and is the first call-off against payment within the long-term agreement signed in 2019 with Yunbo Technology, which was activated in December.
”It is very gratifying that we are now able to make another delivery after approving yet another batch of our silica media NLAB Saga®. From the first quarter, we estimate that we will have ongoing production with gradually increasing volumes. The delivery agreement with Yunbo is back-heavy, but we expect that orders and deliveries against the agreement will now increase gradually. The demand for high-quality silica for purification of peptides has increased in China, as in the rest of the world, and we now show that we are ready to take on the Chinese market”, Nanologica’s CEO Andreas Bhagwani comments.
The agreement with Yunbo Technology (Beijing) Co. was signed in 2019 in connection with Nanologica commencing scale-up of silica production to industrial scale and is for the delivery of silica media for preparative chromatography to a value of USD 14 million over a six-year period. Through the agreement, Yunbo Technology is the exclusive distributor for Nanologica’s preparative and analytical silica products in China.
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About Nanologica AB (publ)
Nanologica is a Swedish life science tools company that provides input goods to pharmaceutical manufacturers. Nanologica’s products are specially developed for the purification of peptide drugs, such as insulin and GLP-1 analogues. Due to effective purification and a long lifetime for the products, they can increase productivity and reduce costs for pharmaceutical manufacturers. Nanologica operates in a global niche market that is growing as a result of increased demand for drugs for the treatment of diabetes and obesity. The company’s mission is to increase access to cost-effective drugs through its purification products and thereby contribute to more patients around the world having access to life-saving treatments. The company is headquartered in Södertälje and Nanologica’s share (NICA) is listed for trading on Nasdaq Stockholm Main Market. For further information, please visit www.nanologica.com.
This information is information that Nanologica AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-01-08 08:29 CET.