Applied UV Inc (AUVI)

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1M share trading float. > Applied UV Reports Exclusive License, Joint Development Deal With Axis Lighting To Commercialize LED-Based Technologies In UV-C Devices To Inactivate Pathogens On Surfaces In Hospital Market, No Terms Disclosed
8:40 am ET October 28, 2020 (Benzinga) Print
Applied UV, Inc. (NASDAQ:AUVI) ("Applied UV" or the "Company"), an infection prevention technology company that applies the power of ultra violet C ("UV-C") light utilizing its patented devices to destroy pathogens safely, thoroughly, and automatically, today announced that its subsidiary, SteriLumen, Inc. ("SteriLumen"), and Axis Lighting, Inc. of Quebec, Canada, have entered into an exclusive license and joint development agreement. The companies will collaborate on the development and commercialization of new LED-based technologies and solutions in UV-C products that are designed to neutralize pathogens on physical surfaces in hospitals located in North America.

"Axis Lighting is the ideal partner for SteriLumen in the hospital market," said Q Saeed, CEO of Applied UV. "In addition to their proven commercial product success and go-to-market capabilities, Axis shares SteriLumen's vision for innovation to address better healthcare outcomes and the rising global demand for pathogen control solutions that provide outstanding efficacy and safety. This collaboration leverages the capabilities and strengths of each partner and achieves our objective to retain significant value for Applied UV's shareholders."