- Dotz Nano (DTZ) enters distribution agreement with ScienceVision for it to promote, sell and distribute its COVID-19 virus detection technology in Malaysia
- The agreement is for an initial three years, and gives ScienceVision the exclusive right to sell Dotz Test Kits
- Under the agreement, ScienceVision must make a minimum first-year purchase of US$600,000 (A$846,000)
- Dotz believes this new agreement may result in significant new purchase orders but this isn’t guaranteed
- On the market this morning, Dotz is up five per cent and trading at 42 cents per share
Dotz Nano (DTZ) has entered into a distribution agreement with ScienceVision to promote, sell and distribute its COVID-19 virus detection technology in Malaysia.
ScienceVision is a biotech company in Malaysia and is currently the exclusive distributor of reputable brands in the country such as Illumina and Genefix.
The agreement is for an initial three years, and gives ScienceVision the right to sell Dotz Test Kits.
Under the agreement, ScienceVision must make a minimum first-year purchase of US$600,000 (A$846,000). If this is not met, Dotz has the right to terminate its exclusivity and or distribution rights.
ScienceVision will also be able to appoint sub-distributors, which will be subject to the company’s approval.
Dotz believes this new agreement may result in significant new purchase orders, however, there is no certainty that any new purchase orders will be received or that they will be material.
Dotz CEO Gideon Shmuel believes that coronavirus tests will become more important as travel restrictions around the globe begin to ease.
“Our SARS-CoV-2 virus detection technology is ideal for countries that are heavily dependent on tourism, providing a cost-effective and timely testing method,” he said.
“This new distribution agreement provides us with a foothold in Malaysia at a time when it is reopening to tourists for the first time in 18 months. Our saliva-based Dotz Test Kits are significantly less invasive than standard nasopharyngeal swab tests, and are suitable for young children.”
On the market this morning, Dotz was up five per cent and is trading at 42 cents per share at 11:43 am AEDT.