The medical devices sector has managed to attract the attention of investors in a significant fashion in recent times and one of the companies which could well be worth tracking is Therma Bright Inc (TSXV:THRM) (OTCQB:TBRIF).
At this point in time, the company is best known for having developed the AcuVid™ COVID-19 Rapid Antigen Saliva Test and other medical devices.
Trading Data
On Thursday, THRM.V stock has been moving in a narrow range over the past few trading sessions.
Therma Bright Inc. Invests in Ischemic Stroke Blood Clot Retriever Technology Company Inretio Inc. based in Israel
However, last week the company was in the news after it made a major new announcement with regard to the signing of a Share Purchase Agreement with the Israel-based company Inretio Ltd. The company is going to get hold of the innovative protective blood clot retriever technology that had been created by Inertio through this deal.
As per the provisions of the agreement, Therma Bright would have the right to invest as much as a maximum of $2,000,000 in cash and $500,000 in stock for picking up a 25% stake in Inretio. It should be noted that everything can go through only after approval is granted by the TSX Venture Exchange.
The cash and shares are going to pay out by Therma Bright after some predetermined milestones are hit by Inertio by May 31 next year. The first payment made by the company to Inertio totaled $200,000. It could be a good move for investors to keep the stock on their radars.
