FNDX up +10% with scale-up development of RepelWrap FendX Technologies (FNDX.c) closed up over 10% today, having engaged Dunmore for the scale-up development of RepelWrap, a first-of-its-kind coating product with patent-pending and proprietary technology with unique repelling properties that prevent the adhesion of pathogens, bacteria and viruses, reducing their transmission on surfaces prone to contamination.
This follows the completion of testing a lab prototype with McMaster University as FNDX continues to hit prototype development milestones and create larger versions of the RepelWrap film with the end goal to develop a commercial product.
FNDX CEO, Dr. Caroyln Myers, commented:
"The engagement of Dunmore is an important milestone for us as this is the first step to assessing and creating an automated manufacturing process. We look forward to continuing to execute on our scale-up and development milestones with highly experienced collaborators and are excited to work with an experienced manufacturer such as Dunmore."
FNDX additionally plans to "research and develop a pipeline of other products to contribute to the global effort to reduce the spread of pathogens", by leveraging its robust patent portfolio and nanotechnology.
In preventing the spread of COVID and other diseases, FNDX & RepelWrap have a unique opportunity to take advantage of as the surface coating market is estimated to hit US$3.5 billion by 2025, growing from US$1.3 billion in 2020 at an 18% CAGR.
This strongly positions FNDX for significant revenue generation once in commercial production which is expected in 2024.
With a stacked management team, a strong share structure and tight float FNDX has significant potential and the stock has been performing very well following its IPO at the end of March week and is currently up almost 20% today.
News Release: https://www.newsfilecorp.com/release/162106
Deep dive DD packet: https://www.reddit.com/r/PennyStocksCanada/comments/11qhnvo/fendx_technologies_due_diligence_packet_a/
Posted on behalf of FendX Technologies Inc.