FendX is a nanotechnology company with a core mission to reduce the spread of pathogens utilizing their proprietary technology that repels viruses, bacteria, blood, liquids, and pathogens from surfaces through a plastic wrap or spray application.
Today, the Company announced that it has signed a Master Services Agreement with nanoComposix LLC, a Fortis Life Sciences Company, with a first work order dated October 25th 2023 for scale-up development of FendX’s spray nanotechnology.
Founded in 2004, nanoComposix was built with the mission of providing precisely engineered and highly characterized nanomaterials to a global customer base. Their product portfolio contains hundreds of different variants of materials, size, shape, and surface backed by extensive technical documentation and support. Utilizing a unique library of nanomaterials, nanoComposix helps bring nanotechnology-enabled products from conception to commercialization.
Dr. Carolyn Myers, CEO of FendX states, “We are pleased with the development progress we are making with our spray nanotechnology formulation with McMaster since licensing it in May 2023 and are now ready to commence the next phase of scale-up development work which includes the involvement of a third-party manufacturer. Working with an experienced nanomaterials company like nanoComposix will provide us with the expertise to further our development milestones and advance the spray formulation with the aim of producing larger-scale batches for testing.” Dr. Myers continues, “We are committed to advancing our spray-on coating nanotechnology, which we believe is an important part of our pipeline of products under development, as a potential spray product could be easier to apply to many surfaces and expand our potential market applications.”
FendX’s spray-on coating nanotechnology under development is a protective surface coating that has demonstrated not only repelling properties the same as for our REPELWRAP™ film, but also has been shown to kill residual pathogens. The spray nanotechnology was licensed from McMaster University pursuant to a license agreement dated May 16, 2023.
For a deeper dive into FendX, be sure to check out Chris Parry’s recent breakdown.
The stock has rejected a resistance zone at $0.32 but there is an interesting structure developing. There is the potential of a reversal pattern known as the inverse head and shoulders playing out here. The current drop would lead to the right shoulder being formed with an eventual breakout above $0.32, which triggers the reversal pattern. As long as the price remains above $0.26, there is a possibility that this right shoulder develops.
