COVID-19 Detection in 30 Seconds... Dreamtech Advances 'Electronic Nose Solution' MOA
Additional $2 Million Investment in Nanoscent... European Investment Bank (EIB) Attracts $9.5 Million Investment
Electronic nose solution presented by Dreamtech in collaboration with Israeli company Nanocent. It can detect COVID-19 infection status within 30 seconds through exhaled breath. Photo by Dreamtech
View original image[Asia Economy Reporter Kim Heeyoon] Electronic component manufacturer Dreamtech announced on the 30th that it has signed a Memorandum of Agreement (MOA) with Israeli company NanoScent to advance its 'electronic nose solution' that detects COVID-19 infection through exhaled breath.
Dreamtech invested in NanoScent last year and has maintained a strategic partnership by participating in the Korea-Israel research support fund KORIL's projects and receiving joint research and development funding. The two companies developed an electronic nose solution that can detect COVID-19 infection within 30 seconds through exhaled breath. This solution was recently introduced and piloted by four English Premier League clubs, including Tottenham Hotspur FC.
To further advance the electronic nose solution business, Dreamtech will invest an additional $2 million in NanoScent. In addition to Dreamtech, NanoScent is expected to receive an €8 million investment from the European Investment Bank (EIB).
Through this MOA, Dreamtech has secured exclusive domestic rights for COVID-19 diagnosis using the electronic nose solution. Dreamtech will also be responsible for domestic clinical trials and approval procedures. The company is preparing cooperation plans for electronic nose clinical trials with various entities such as local governments and university hospitals.
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A Dreamtech official stated, “With the signing of this MOA, we have gained momentum for the successful commercialization of the electronic nose solution both domestically and internationally,” adding, “We will strive to become a leading company in the future medical market by strengthening the strategic alliance between the two companies.”
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