GUELPH, ON / ACCESSWIRE / August 5, 2022 / Zentek Ltd. (“Zentec“or the”Company“) (NASDAQ:ZTEK)(TSXV:ZEN), an intellectual property development and commercialization company, provides the following updates on its commercial agreements relating to its proprietary antimicrobial coating ZenGUARD™.
On April 12, 2022, the Company announced that it had entered into a reciprocal supply agreement (the “Ekomed agreement“) dated March 31, 2022, with EkoMed Global Inc. (“EkoMed“), an integrated global manufacturer and distributor of personal protective equipment (“EAR“), pursuant to which (i) the Company will sell quantities of ZenGUARD™ coated material to EkoMed for initial use on EkoMed’s surgical masks and potentially other PPE in the future, and (ii) the Company will purchase surgical masks with ZenGUARD™ manufactured by EkoMed, and resold by Company.
The Company has entered into a license and supply agreement with Trebor Rx Corp. (“Trebor“) dated September 24, 2021 (the “Trebor Agreement“) under which Trebor would manufacture surgical masks and potentially other personal protective equipment coated with ZenGUARD™. The Trebor deal was the company’s first revenue-generating deal, and the company relied on Trebor to sell the product based on Health Canada clearance received September 22, 2021, under Interim Order #2 – #329587 – Regarding the importation and sale of medical devices intended for use in relation to COVID-19.
Since then, Zentek has announced that it has obtained a Medical Device Establishment License (“MDEL“) from Health Canada (license number 18823) for the manufacture and distribution of any Class I medical device, including any such device with or without ZenGUARD™ technology. MDEL enables the Company to work with d other manufacturers and distributors (such as Ekomed) inside and outside of Canada, as well as to produce and sell its own Class I medical device PPE products, rather than relying on the Trebor agreement.
Effective July 29, 2022, Trebor went into receivership and, in connection therewith, the Trebor Agreement was terminated. Based on the Ekomed Agreement, in addition to the Company’s ability to enter into contracts with other manufacturers and distributors in accordance with its MDEL, the Company does not expect any material loss resulting from the termination of the Trebor agreement or the Trebor receivership. The company continues to seek new partnerships with other manufacturers and distributors and will announce such partnerships as appropriate. The company also continues to work with regulators, including the FDA in the United States, to expand the PPE market with ZenGUARD™.
About Zentek Ltd.
Zentek is an intellectual property development and commercialization company focused on next-generation healthcare solutions in the areas of prevention, detection and treatment. Zentek is currently focused on commercializing ZenGUARD™, a patent-pending coating shown to have 99% antimicrobial activity, including against COVID-19, and the potential to use similar compounds as products against infectious diseases. The Company also has an exclusive agreement to be the exclusive global commercial partner for a novel aptamer-based rapid pathogen detection technology.
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E-mail: [email protected]
To learn more about Zentek Ltd., please visit our website at www.Zentek.com. A copy of this press release and all material documents relating to the Company may be obtained on ZEN’s SEDAR profile at http://www.sedar.com/.
This press release contains forward-looking statements. Because forward-looking statements address future events and conditions, they, by their very nature, involve inherent risks and uncertainties. Although Zentek believes that the assumptions and factors used in preparing the forward-looking information contained in this press release are reasonable, undue reliance should not be placed on such information, which speaks only as of the date of this release. release, and no assurance can be given that such events will occur within the timeframe disclosed or not at all. Zentek disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
THE SOURCE: Zentek Ltd.