Why are Australian MedTech penny shares TTB and UBI trending today?

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Summary

  • Total Brain introduced discrete & continuous HRV functionality to its existing mental health self-monitoring and self-care platform.
  • Electrochemical strips developer Universal Biosensors Inc has signed nonexclusive distribution agreements for Sentia.

While the ASX200 has had a relatively muted start to the day, two MedTech stocks have been in the limelight following important announcements. Healthcare equipment and service provider Total Brain Limited (ASX:TTB) has introduced heart rate variability (HRV) functionality to its existing mental health platform. Another MedTech player, Universal Biosensors Inc (ASX:UBI), has entered into distribution agreements for its wine testing platform device.

Other ASX healthcare shares that have moved north on the ASX today (at AEST 11:58 AM) following include Amplia Therapeutics Limited (ASX:ATX), up 6.66%, Alcidion Group Limited (ASX:ALC), up 10.294%, and Avecho Biotechnology Limited (ASX:AVE), up 5%.

Total Brain introduces HRV functionality

Total Brain Limited has announced the introduction of HRV functionality to its existing mental health self-monitoring and self-care platform.

This is an easy-to-understand, highly differentiated technology and would expand the value proposition of TTB, user engagement and market adoption. Further, this technology will also enhance user engagement across Business to Business (B2B), Business to Consumer (B2C) affinity and clinical markets.

The Company also disclosed that HRV functionality signifies a substantial revenue opportunity for the Company. The Company estimates a material increase in the average price per user. The Company plan to upsell this feature to its current business book and expand the offering to prospective clients and new stress management and physical health markets.

Total Brain will offer two versions of the HRV functionality to its customers:

Source: Copyright © 2021 Kalkine Media Pty Ltd, TTB Announcement (15 April 2021)

Stock Information: TTB shares were trading at AU$0.300, up 7.142% at AEST 12:02 PM.   

GOOD READ: 5 ASX penny stocks in healthcare space

UBI enters into a distribution deal for Sentia

Electrochemical strips designer and developer Universal Biosensors Inc signed a nonexclusive distribution agreement with Wine & Beer Supply. This agreement is for distributing UBI’s wine testing platform device ‘Sentia’ in the US.

On 14 April 2021, the Company had disclosed a nonexclusive distribution agreement with Singularity SpA for the distribution of Sentia in Chile.

Moreover, both the distribution agreements are for a three-year term and include standard renewal and termination options available to both parties.

Source: Copyright © 2021 Kalkine Media Pty Ltd

ALSO READ: Two Australian healthcare penny stocks on watch today - UBI, AVE

John Sharman, CEO of UBI, commented:

Mr Sharman further added that along with the current capability, the Company believes there is a possibility of Sentia’s future testing capability for Fructose, Glucose, Malic Acid, and others will add considerable value to the winemaking industry.

Interestingly, the Company is negotiating terms with several key industry players worldwide and looks forward to disclosing additional distribution partnerships in due course.

Stock Information: UBI shares were trading at AU$0.745, up 2.054% at AEST 12:02 PM. 


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