Why BlueChiip (ASX:BCT) is touching heights today

Highlights

  • Bluechiip Limited has signed a License and Development Agreement with Fujifilm Irvine Scientific.
  • Fujifilm Irvine Scientific is a California based firm that manufactures and innovates devices, and reagents clinicians and researchers.
  • Bluechiip will be responsible for developing and customising different Bluechiip enabled technologies for Fujifilm.

Bluechiip Limited (ASX: BCT) shares reached their 3-months high, at AU$0.049 on Tuesday.

The rise was followed by the ASX announcement regarding the License and Development Agreement with Fujifilm Irvine Scientific.

Let’s have a closer look at the announcement that increased the shares of BCT by 63%.

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License Agreement

Biological sample management solution firm in a cryogenic environment, Bluechiip Limited (ASX:BCT) entered into a licence and Development agreement with FUJIFILM Irvine Scientific, which is a California based firm.

FUJIFILM is a leader in the manufacturing and innovation of medical devices, and reagents clinicians and researchers across the globe. The company is also engaged in extending support to scientists in similar fields.

As per the agreement, the initial fee for the licence and development will be paid by FUJIFILM to Bluechiip over the 18 to 24 upcoming months. Bluechiip will be responsible for developing and customising different Bluechiip enabled technologies for improving the traceability of samples, adding ease in the workflow, and for assisted reproductive technology market segment.

During the preliminary period of the licence and development agreement, both companies will negotiate for reaching a supply agreement for the distribution and sale of Bluechiip Enabled customised products. The agreement will include details about the commercial terms, pricing and minimum volume.

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Bottom Line

The shares of Bluechiip closed 66.666% strong at AU$0.050 per share on the ASX after the announcement. The motives and services offered by these companies complement each other and the impact of the partnership on the company’s revenue will be awaited.

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