- Under a 12-month distribution deal, Touch Guard will distribute Nanoveu’s (NVU) antiviral products to the Australian and New Zealand markets
- Touch Guard – a wholly owned subsidiary of Jaszac Investments – will be required to achieve a minimum US$1 million (roughly A$1.4 million) purchase order target in order to maintain exclusivity
- Nanoveu will be responsible for supplying the products to Touch Guard and will offer a royalty-free licence to utilise its branding
- Touch Guard has been granted an option to extend the exclusivity period for another two terms, each for a period of 36 months, provided it achieves the necessary sales targets
- Shares in Nanoveu were down 1.82 per cent at the close of trading yesterday to 5.4 cents each
Under a 12-month distribution deal, Touch Guard will distribute Nanoveu’s (NVU) antiviral products to the Australian and New Zealand markets.
The agreement with Touch Guard – a wholly-owned subsidiary of Melbourne-based private investment company Jaszac Investments – is effective immediately and outlines a US$1 million (roughly A$1.4 million) purchase order target in order to maintain exclusivity.
Nanoveu will supply its products to Touch Guard on a consignment basis, and will be responsible for shipping the products to Touch Guard’s facilities. Touch Guard will also be granted a royalty-free, irrevocable license to utilise Nanoveu’s branding for marketing purposes.
Should Touch Guard achieve its required purchase order targets, it will have the option to extend the exclusivity period for another two terms, each for a period of 36 months.
“Nanoveu’s antiviral products continue to attract high-quality distribution customers, seeing our capacity to reach new markets further strengthen,” said Alfred Chong, Executive Chairman and CEO of Nanoveu.
“The agreement with Touch Guard is a significant achievement for the company with our unique antiviral technology being more available in Australia and, for the first time, actively promoted in New Zealand,” he added.
According to independent tests, Nanoveu’s antiviral products have demonstrated an ability to eliminate 99.99 per cent of OC43 – a viral strain affecting humans which is also a surrogate for COVID-19 – in as little as 30 minutes. They have also shown effectiveness against other bacteria, including e.Coli, Influenza A and coronavirus MHV-A59.
These products include Nanoveu’s Nanoshield antiviral suite, ranging from commercial rolls to retail phone cases and screen covers, as well as door handle covers and medical PPE face shields.
“Jaszac was an early stage investor in Nanoveu,” said Jason Sourasis, Managing Director of Jaszac Investments.
“With the successful passing of lab testing and associated regulatory checklist from around the globe, it made sense for us to roll this technology out in Australia and New Zealand as quickly as possible,” he concluded.
Shares in Nanoveu were down 1.82 per cent at the close of trading yesterday to 5.4 cents each.