Ilika PLC (AIM:IKA, OTCQX:ILIKF)'s share price has surged 10% following the announcement of a landmark 10-year agreement with Cirtec Medical, a provider of complex medical devices.
The partnership will focus on the manufacturing and sale of Ilika's Stereax solid-state batteries, used in minimally invasive surgical tools and implants.
Cirtec will have exclusive rights to manufacture the Stereax range for the medical field, with the collaboration including profit sharing initially, followed by royalties.
The shares rose 4.66p to 49.66p in morning trade.