Australia's Memphasys hits 10-month high on device sale to Chinese manufacturer

Memphasys

22/11/2021 02:35

** Shares of medical device maker Memphasys Ltd  MEM.AX 
jump as much as 14.3% to A$0.12, their highest since Jan. 7
    ** MEM announces maiden sale of its Felix device, an
automated device for use in human IVF procedures, to Chinese
manufacturer and distributor Diagens Biotechnology Company
 urn:newsml:reuters.com:*:nASX9s76fH
    ** Says sale is for delivery to a third party major Chinese
reproductive medical research centre for research purposes  
    ** Says it will receive first revenues from the Felix device
through the deal that will also increase its exposure to the
Chinese market
    ** More than 2.5 mln shares change hands, nearly 3 times
their 30-day average 
    ** Stock up for a third consecutive session
    ** As of last close, stock up ~5% this year

($1 = 1.3814 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))