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ScoutCam (OTCMKTS:SCTC) Announces Royalty Licensing Agreement: Stock Flat

Madison Hall , , , ,

ScoutCam (OTCMKTS:SCTC) is moving in a range after announcing the signing of a royalty licensing deal with Japanese company Sumita Optical Glass Inc. for its proprietary micro-visualization solution. Sumita Optical Glass, an optical fiber tech firm, will use the solution in the manufacturing and development of medical device products.

Market Stats

On Friday, SCTC stock ended flat at $7.20 with more than 119 shares, compared to its average volume of 129 shares. The stock moved within a range of $7.20 – 7.20 after opening trading at $7.20.

ScoutCam Signs Royalty Licensing Agreement With Sumita Optical Glass

Sumita creates micro-optical components such as microlenses, lenses, image bundles, and light guides to be used in tiny endoscope sub-assemblies marketed in Japan and across the world. In addition, the company launched a new production facility in May 2021 to expand its capability for increased manufacturing of tiny and high-precision optical devices used in endoscopes and also innovative medical device items in development.

ScoutCam will receive a royalty payment from Sumita for the use of its tiny diameter video camera tech as per the agreement terms. In addition, Sumita will be able to use the company’s tech in products offered worldwide under the terms of the license. Therefore investors should watch SCTC in the coming weeks.

Key Quote

Yovav Sameah, Chief Executive Officer of ScoutCam, commented on the announcement, “We are very excited to enter this licensing agreement of our technology; Sumita is one of world’s leading optical glass manufacturers and their products are widely used in technology-based applications. Licensing our micro visualization patents for use in their growing medical device business confirms the excellence of our technology and the value of our patent portfolio.”

Traders Corner

SCTC stock is trading below the 20-Day and 200-Day Moving averages of $7.42 and $8.78 respectively. The stock is trading in neutral zone with the RSI at 79. 

Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.