After having already delivered gains of 9% yesterday, Enzolytics Inc (OTCMKTS:ENZC) has managed to jump by 3% this morning. This morning the company announced that it has managed to bag a distribution license for the pharmaceutical entity based out of Europe.
By way of this license, Enzolytics is going to be able to distribute the anti-HIV1 therapeutic ITV 1 in a number of nations. The nations include Egypt, UAE, Nigeria, Philippines, Tunisia, North Sudan, Tanzania, India, Benin and Togo, Kenya, Uganda, Morocco, Libya, Pakistan, Rwanda and Pakistan.
The unnamed licensing entity owns a pharmaceutical facility in Eastern Europe. As per the agreement that has been signed by Enzolytics, the company is going to get $1 million upfront and on top of that, it is also going to get a 50% stake in the licensing entity. The licensing entity is worth $8 million. In light of this morning’s rally, it might be worthwhile for investors to keep an eye on Enzolytics.
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