Sono-Tek Enters Into Agreement With Avior Bio Inc
Sono-Tek Corporation (SOTK)
NASDAQ:AMEX Investor Relations:
sono-tek.com/investor-relations
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Source: PR Newswire
MILTON, N.Y. and DURHAM, N.C., Sept. 20, 2019 /PRNewswire/ -- Sono-Tek Corporation (OTCQX:SOTK) is pleased to announce that Sono-Tek has entered into an agreement with Avior Bio Incorporated for Sono-Tek ultrasonic coating equipment to be used in the Avior product development and future manufacturing process. Avior Bio procured Sono-Tek's medical device coating machine which will be paid for through a combination of cash and Avior Bio equity. Terms of the transaction were not disclosed.According to R. Stephen Harshbarger, Sono-Tek's President, "Avior Bio is developing a powerful technology in the nano and microparticle drug delivery arena. The Speedit™ transmucosal film technology is unlike anything else Sono-Tek has seen among its customers, and Avior is using that technology to develop its first product in the target market of chronic kidney disease (CKD). The founder and CEO of Avior, Dr. Niraj Vasisht, has a proven track record of success. We are excited to have Sono-Tek coating m
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