Biotech company Holista CollTech (HCT) has locked in a U.K. distributor for its Natshield sanitiser product
OOH Medical has been appointed to distribute the sanitiser across the United Kingdom
However, the companies are still waiting for some important government approvals before the product can be marketed in the country
Holista CollTech told shareholders today it expects some of the approvals to be received by July
Natshield has been proven to kill 99.99 per cent of the feline coronavirus, which is used as a surrogate in COVID-19 testing
Shares in Holista CollTech are just over six per cent higher today, currently worth 18 cents each
Small-cap biotech Holista CollTech (HCT) has locked in a United Kingdom distributor for its Natshield sanitiser product.
Natshield is the product that thrust Holista CollTech into the spotlight back in January when COVID-19 was just starting to cross oceans.
Today, the company has appointed OOH Medical as an exclusive distributor for Natshield throughout the U.K.
Under today's deal, OOH will have its distribution rights for three years. Holista CollTech said it will negotiate a minimum order requirement for the first year of the partnership in the coming weeks. Natshield buzz
Holista CollTech was one of the earliest contenders in the battle for a COVID-19 solution.
Investors flocked to the small-cap medical company when it revealed in January it had received unprecedented orders for its hand sanitiser in Malaysia as the virus bolstered demand.
At the time, the company was touting Natshield's proven ability to kill 170 different deadly pathogens and viruses, including other forms of coronaviruses.
The key to the hand sanitiser's popularity was its active ingredient, Path-Away. Using completely organic ingredients, Path-Away was the virus-killing speciality of the HCT Natshield product.
Recently, the sanitiser has been proven to be 99.99 per cent effective against the feline coronavirus, which is a common surrogate used for COVID-19 testing.
Despite some sloppy reporting around the efficacy of the sanitiser, resulting in three market retractions in two months, the company insists the Path-Away ingredient is safe for humans and deadly for viruses. The waiting game
However, Holista CollTech now has to wait for important regulatory approvals before OOH Medical can make the most of its distribution rights.
OOH has submitted a tender application to the U.K. government for the supply of Natshield which will need to be approved before the company can kick-off market research, advertising, and promotional campaigns for the sanitiser.
Further, HCT and OOH need to wait for Natshield to be registered through the U.K Medicines and Healthcare product Regulatory Agency (MHRA) before it can be supplied through major U.K. distribution channels.
Holista CollTech told shareholders today it expects the MHRA registration to be approved by July 2020.
Shares in HCT are trading 6.06 per cent higher today, currently worth 18 cents each.
HCT Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
