signed a license agreement with the US start-up, replacing the term sheet from
earlier this year. Bioextrax project with the cosmetics company has also made
progress entering phase three in the process. Initial runs in Bioextrax
scaled-up facility are completed, giving the company the capacity to
accommodate a rising customer interest. Bioextrax is in dialogue with several
counterparts, discussing the next step after successful tests and evaluations.
The company’s progress resulted in minor changes in our model, and we maintain
the fair value of SEK 10.5 per share.
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