Sangui Biotech International, Inc. (OTCMKTS:SGBI) shares were up 30% on Wednesday to $0.0260. Share prices have been trading in a 52-week range of $0.00 to $0.04. The company has a market cap of $6.98 million at 174.47 million shares outstanding.
In a press release this week, Sangui Biotech International announced that SastoMed GmbH has concluded a comprehensive licensing and sales agreement for eight Southeast Asian States with Zuellig Pharma. The company has licensed the worldwide distribution rights for the wound spray Granulox to SastoMed. In this agreement, Zuellig Pharma will be responsible for market launch and distribution of Granulox in the territories of Hong Kong, Singapore, Thailand, Malaysia, Taiwan, Vietnam, Indonesia and the Philippines.
Aside from that, Zuellig Pharma has committed to purchase significant quantities of Granulox within the next five years. CEO of SastoMed Michael Sander explained that these agreements will allow the company to tap into sales areas where more than half a billion people live, achieving a significant milestone in their global expansion.
“In addition to the quantitative dimension, the qualitative contract value of the agreements was also increased. In the past five years, Granulox has proven in field that it keeps what it promises on paper. When granting new territories, we now benefit from the appreciation Granulox has now gained,” Sander ADDED.
Sander is referring to bound high-performance distribution partner MDP Group for Russia. He added that the cumulative purchase commitments for quantities over the next five years are well in the middle six-digit range, with the minimum order giving the company further planning certainty towards achieving its goals.
We congratulate SastoMed on these breakthroughs. After the inclusion of Granulox in the Drug Tariff of the British NHS at the beginning of October 2016, SastoMed herewith has reached further trend-setting successes. Sangui as licensors for Granulox will definitively benefit from these success. In this regard, the year 2016 can be described as very successful “, says Thomas Striepe, CEO of Sangui biotech international.
Hexanova Sp.z.o.o. for Poland is also one of the high-performance distributors that could soon enter into an agreement with SastoMed, which could offer more upside potential for the stock. The daily chart of Sangui Biotech International shows that stock prices have bottomed out in February to September before picking up last month. Another batch of positive updates from the company, such as the announcement of official agreements with MDP and Hexanova could fuel the stock’s rally onto its yearly highs.
Sangui Biotech International is a company that is engaged in developing pharmaceutical, medical and cosmetic products. It focuses on development of oxygen carriers capable of providing oxygen transport in humans in the event of acute and chronic lack of oxygen due to arterial occlusion, anemia or blood loss whether due to surgery, trauma, or other causes, as well as in the case of chronic wounds.
The company also develops external applications of oxygen transporters in the medical and cosmetic fields in the form of sprays for the healing of chronic wounds and of gels and emulsions for the regeneration of the skin, as well as products, such as oxygen carrying blood additives and oxygen carrying blood volume substitutes. These products are based on polymers of purified natural porcine hemoglobin with oxygen carrying abilities