Nanologica Delivers Silica to Customer in China
Nanologica’s Chinese distributor Yunbo Technologies has made a first call-off against the agreement previously signed for the delivery of silica worth USD 14 million over a six-year period.
In connection with Nanologica’s start of large-scale production of silica in 2019, a supply agreement was signed with the company’s Chinese distributor Yunbo Technologies, whereby Nanologica will deliver media for preparative chromatography to a value of approximately USD 14 million over a six-year period. The delivery that is now taking place is a first call-off against the agreement and is the third delivery that Nanologica has made since the company approved its silica-based media for preparative chromatography, NLAB Saga®, earlier this year. According to the agreement, this first call-off is free of charge sampling material. Subsequent call-offs will be orders against payment.
”It is very satisfying to finally activate the long-term agreement we have with our distributor in China and make a first delivery. Production has now stabilized and this is the third batch that has been approved and the third delivery that we are making. At the end of the year or the beginning of next year, we expect to be able to approve another batch, and from the first quarter of next year, we estimate that we will have ongoing production with increasing volumes”, Nanologica’s CEO Andreas Bhagwani comments.
Yunbo Technology (Beijing) Co. was founded in 2018 by key personnel from a company that has been operating in chromatography in southwest China for over 20 years, with the aim of enabling expansion to all of China. Yunbo is currently the exclusive distributor for Nanologica’s analytical and preparative 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.