Byotrol shares surge as group inks new licensing agreements

Shares in infection prevention and control technology firm Byotrol surged on Thursday morning after the group announced two new licensing agreements.

Byotrol said it had agreed on a ten-year technology licence for its long-lasting germ-killing sanitiser spray, Byotrol24, with a consortium of investors for an initial licence fee of $250,000.

The AIM-listed group also said it would receive quarterly royalty payments based on product sales as part of the deal.

Byotrol also revealed that it had inked an agreement with SC Johnson for alcohol-free hand sanitisers.

The firm now expects to generate record first-quarter sales and said it was optimistic that the high levels of demand seen thus far in 2020 souls continue throughout the first half.

Byotrol added: "Sales in March and April 2020 each exceeded £1m and we are expecting to show similarly strong performance in May."

As of 1110 BST, Byotrol shares had shot up 18.58% to 5.58p.