Joint Development Agreement in Cosmetics Market

RNS Number : 4483X

Nanosynth Group PLC

30 August 2022

 

30 August 2022  

nanosynth group plc

("nanosynth", the "Company" or the "Group")

Joint Development Agreement in Cosmetics Market

nanosynth, the AIM quoted company specialising in the synthesis and application of nanoparticles to create new and improve existing products, is pleased to announce they have entered into a joint development agreement with a global wellness company for their first project in the cosmetics market.

It is anticipated that the development programme will run for 12 months and involve two major work packages. Both companies will retain their own intellectual property but will jointly work to develop a revolutionary product for the market. On successful completion and subject to results, it is the intention of both companies to enter into an exclusive commercial agreement for the supply of nanoparticles for this cosmetics market.

Mark Duffin, Chief Executive of nanosynth, commented:   "We are delighted to secure the first project in our R&D programme which is testimony to our leadership in the field of Nano technology. Our client's confidentiality and competitive advantage remain our priority during this development phase and we look forward to becoming their exclusive partners in the future ."

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside is now considered to be in the public domain.

ENQUIRIES :

nanosynth group plc	via IFC Advisory
Mark Duffin (Chief Executive Officer)
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser and Broker
Stuart Gledhill
Caroline Rowe
IFC Advisory Ltd	[phone]
Graham Herring
Zach Cohen

 

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