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Tech & Science Simavita surges 480pc after gaining CE approval for its nappy tech

08:20  25 november  2019
08:20  25 november  2019 Source:   msn.com

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The company gained CE Mark certification for its Smartz technology , which is sensors incorporated into nappies that detect conditions and incidents such as urinary The original technology was developed in the 1990s by the late Dr Fred Bergman and Simavita backdoor listed in 2014.

Simavita surges 480 pc after gaining CE approval for its nappy tech . Simavita Ltd's share price surged 72% on Friday, but it was under very low volumes which only amounte

a baby sitting on a bed: Simavita surges 480pc after gaining CE approval for its nappy tech© Stockhead Australia Simavita surges 480pc after gaining CE approval for its nappy tech

Who thought nappies could make your stock a six-bagger – in just an hour and a half? That happened to shareholders of Simavita (ASX:SVA) on Monday.

The company gained CE Mark certification for its Smartz technology, which is sensors incorporated into nappies that detect conditions and incidents such as urinary incontinence and falls. It works both in infants and adults.

The original technology was developed in the 1990s by the late Dr Fred Bergman and Simavita backdoor listed in 2014.

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Simavita Set to License Sensor Technology in EU. Patented Smartz technology achieves CE Mark approval . “Achieving CE Mark enables Simavita to commercialize our disruptive technology for adults and infants Instead, its strategy is to license technology and deliver service to customers

Today it announced the major win – which means the product complies with European health, safety and environmental protection standards.

The market’s response was to send shares up 480 per cent from 0.5c to 2.9c – the second largest one-day gain in 2019.

The only bigger gain came from former battery metals explorer MetalsTech (ASX:MTC), which told shareholders last week it was looking to buy a Slovakian gold project.

Simavita does not manufacture the final product, it only licences the technology. It told shareholders it was in discussion with other companies about its technology. While it had nothing new to announce in that regard, on Monday it promised to keep the market informed.

Executive chairman Michael Spooner said with a CE Mark now in hand, the tech could be commercialised in Europe.

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Neither ASX nor its directors, officers, agents, employees or contractors will be liable for any loss or damage arising in any way (including negligence) from or in connection Simavita Limited published this content on 25 November 2019 and is solely responsible for the information contained therein.

Simavita surges 480 pc after gaining CE approval for its nappy tech . November 25, 2019November 25, 2019 | Nick Sundich. Health & Biotech › Medical Cannabis. Creso Pharma wins second Israeli order for its medicinal cannabis. Bod makes .5m from Aussie pot buyers in the June quarter alone.

“Smartz delivers significant competitive advantage to major retailers, distributors and global diaper manufacturers,” he said.

“Importantly, Smartz addresses many of the issues faced in Australia and internationally in the care of the elderly including delivering on significant efficiency gains, whilst dramatically improving overall care standards.”

Stockhead has contacted the company for further comment.

Read More:

What’s next for high-tech nappy maker Simavita

The post Simavita surges 480pc after gaining CE approval for its nappy tech appeared first on Stockhead.

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