The CEO of I-Tech AB Philip Chaabane rings the bell to open I-Tech’s first day of trading on Nasdaq First North.
I-Tech recently completed a share issue for listing on Nasdaq First North. The shares will be traded under the ticker ITECH and ISIN code SE0011167725.
I-Tech AB is a public held bio-technology company based in Mölndal, Sweden that owns all IP and regulatory rights to the antifouling agent Selektope® (generic name, medetomidine). I-Tech also controls the largest and most efficient source of medetomidine production.
Since 2006, I-Tech has successfully transformed the scientific invention of Selektope® into a commercially ready and available antifouling agent. I-Tech is not a marine coatings manufacturer, instead we supply Selektope® to marine coatings manufacturers for inclusion in antifouling products.
I-Tech’s quest to find, develop and commercialize a hard fouling prevention technology alternative commenced in the wake the IMO decision to ban the application of tributyltin (TBT)-based paints on vessels as of 1 January 2003. The I-Tech ‘Eureka’ moment yielded an organic, non-metal compound named Selektope®. This innovation milestone for the industry was subsequently followed by 15 years of trials, and exhaustive regulatory hurdles.
The business concept is for Selektope® to take a significant role in vessel performance optimization by offering the technology to the global paint industry as the principal active agent in marine antifouling paints. I-Tech’s vision is to establish Selektope® as the leading alternative biocide to prohibit marine growth in an effective and sustainable way.
For further information, refer to the prospectus that has been prepared in connection with the issue and application for listing. The prospectus is available on I-Tech’s website, http://www.i-tech.se
Erik Penser Bank AB is the Company’s Certified Adviser and has been financial advisor in connection with the listing and the rights issue. MAQS Advokatbyrå has been the Company’s legal adviser in connection with the listing and the rights issue