Nanoco Group - Fundraising extends cash runway further
In May Nanoco announced it had taken actions to extend the cash runway from July this year to calendar year Q221. Since then it has signed a five-year framework agreement with STMicroelectronics covering multiple infrared sensing applications, won a development contract for a new technology application in the display sector and secured third-party funding for its patent infringement lawsuit against Samsung. Having achieved these key goals, the company has now raised £3.4m to extend the cash runway to at least the end of calendar year 2022. While our estimates remain under review, we hope to see fresh guidance from management in the new financial year.Nanoco Group is engaged in the research, development and manufacture of cadmium and heavy-metal-free quantum dots and semiconductor nanoparticles. Co.'s core activities are the generation and development of CFQD® quantum dot products. In the display industry, the use of CFQD® quantum dot products enhances the colour gamut and energy efficiency of liquid crystal display televisions and other displays. The display market includes televisions, monitors, notebooks, tablets and smartphones.
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