K-One active, jumps 17.98% on licence to make ventilators for Covid-19 treatment

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KUALA LUMPUR (June 2): Shares in K-One Technology Bhd jumped as much as 17.98% in mid-morning trade today, after the group has secured a license to manufacture and distribute low-cost breathing ventilators for Covid-19 patients.

At 10.49 am, K-One rose eight sen or to 52.5 sen, valuing it at a market capitalisation of RM324.38 million. The counter saw some 231.5 million shares traded.

The counter was the most actively traded in Bursa Malaysia.

In a filing with Bursa yesterday, the Group said that the non-exclusive license was awarded by NASA JPL via the California Institute of Technology. Nasa JPL is a US federal funded research and development centre managed for NASA (National Aeronautics & Space Administration) by Caltech.

It said, the VITAL (Ventilator Intervention Technology Accessible Locally) ventilator uses far fewer parts than a conventional ventilator, and the parts are easily available in the market.

It added, the licence agreement lasts up until Oct 1, 2024 or until the World Health Organisation (WHO) lifts the public health emergency status.

“The licence is royalty-free, world-wide applicable to the technology and patent rights to use, make, have made, manufacture, have manufactured, sell, have sold and import ventilators in response to the Covid-19 pandemic.

“The licensee i.e. K-One is free to use, share, distribute, and make available to others, copy, modify and build upon the technology for the purpose during the licence term,” it said.

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