Nanosynth Group, an AIM-listed company specialising in the synthesis and application of nanoparticles to create new and improve existing products, has entered into a joint development agreement with a global wellness company for its first project in the cosmetics market.
The development programme will run for 12 months and involve two major work packages, with an end goal to enter into an exclusive commercial agreement for the supply of nanoparticles for this cosmetics market.
Chief executive officer Mark Duffin said: "We are delighted to secure the first project in our R&D programme which is testimony to our leadership in the field of Nanotechnology.
“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."
Both companies will retain their own intellectual property assets.
NNN shares rallied over 10% on Tuesday morning, bringing the company’s market capitalisation to £11mln as of 08:40 BST.
Read the original article on Proactive Investors.