The CEO of I-Tech AB Philip Chaabane rings the bell to open I-Tech’s first day of trading on Nasdaq First North.
I-Tech recently completed a share issue for listing on Nasdaq First North. The shares will be traded under the ticker ITECH and ISIN code SE0011167725.
I-Tech AB is a public held bio-technology company based in Mölndal, Sweden that owns all IP and regulatory rights to the antifouling agent Selektope (generic name, medetomidine). I-Tech also controls the largest and most efficient source of medetomidine production.
Since 2006, I-Tech has successfully transformed the scientific invention of Selektope into a commercially ready and available antifouling agent. I-Tech is not a marine coatings manufacturer, instead we supply Selektope to marine coatings manufacturers for inclusion in antifouling products.
I-Tech’s quest to find, develop and commercialize a hard fouling prevention technology alternative commenced in the wake the IMO decision to ban the application of tributyltin (TBT)-based paints on vessels as of January 1, 2003. The I-Tech ‘Eureka’ moment yielded an organic, non-metal compound named Selektope. This innovation milestone for the industry was subsequently followed by 15 years of trials, and exhaustive regulatory hurdles.
The business concept is for Selektope to take a significant role in vessel performance optimization by offering the technology to the global paint industry as the principal active agent in marine antifouling paints. I-Tech’s vision is to establish Selektope as the leading alternative biocide to prohibit marine growth in an effective and sustainable way.