By Anthony O. Goriainoff

Shares in Nanosynth Group PLC rose Tuesday after the company said it has entered into a joint development agreement with an undisclosed wellness company for their first project in the cosmetics market.
Shares at 0704 GMT were up 0.10 pence, or 21%, at 0.57 pence.

The London-listed nanomaterials company said that both companies will retain their own intellectual property and that the development program will run for a year and involve two major work packages.
Nanosynth Group said that, upon the project’s successful completion and depending on results, both companies intend to enter into an exclusive commercial agreement.
“We are delighted to secure the first project in our R&D program which is testimony to our leadership in the field of Nano technology. Our client’s confidentiality and competitive advantage remain our priority during this development phase and we look forward to becoming their exclusive partners in the future,” Chief Executive Mark Duffin said.
Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com