New Zealand Coastal Seafoods soars on licensing deal
03/11/2022 02:00
** Shares of New Zealand Coastal Seafoods Ltd NZS.AX climb
as much as 33.3% to A$0.004, on track for their best day since
Oct. 31
** Co enters into a memorandum of understanding with venture
capital firm Beyond Capital Limited Partnership to licence two
provisional patents urn:newsml:reuters.com:*:nASX7H06nn
** Says patents are relating to use of mussels with fucoidan
as an anti-inflammatory remedy
** Says upon completion of licencing deals, co will
manufacture mussel-based products in bulk
** Stock has fallen 62.5% this year, as of last close
(Reporting by Poonam Behura in Bengaluru)
((Poonam.Behura@thomsonreuters.com;))
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