IQnovate to commercialise Nanosonics’ disinfection system

Contract medical organisation IQnovate (NSX:IQN) is negotiating an agreement to help commercialise an ultrasound disinfection system from Sydney-based Nanosonics.

The two companies have signed an MoU to develop a business case and project plan for sales activities for Nanosonics' Trophon EPR.

Both parties expect to have reached a commercial agreement to conduct the project by the end of June.

Trophon EPR is an ultrasound High-Level Disinfection system using Nanosonics' NanoNebulant technology platform.

The product has already received the required regulatory approvals, and was launched in the USA in July 2011, in Australia and New Zealand that September and in Europe in November.

This is the second MoU IQnovate has signed since going public on the National Stock Exchange in December.

The first was a preliminary deal to commercialise help pharmaceutical grade products including nutraceuticals for JH Biotech Australasia.

Last month, the company revealed plans to delist from the NSX and make the move to the ASX.

Nanosonics was founded in 2001 to develop technologies for infection control. As well as its Sydney headquarters, the company has offices in the USA and Europe.

IQnovate (NSX:IQN) shares were trading at $1.250 as of 2:30pm on Thursday.