1. Nanox signs a new distribution deal & Ran speaks at the Ladenburg Thalmann Healthcare Conference
Nanox Imaging signed a new agreement with EiLEENO Pharma in Nigeria to deploy 1,000 Nanox Arc units. This is a contract for Nanox’s multi-source unit which has not yet been cleared by regulatory bodies.
In the Ladenburg Thalmann Healthcare conference this week, CEO Ran Poliakine gave us more color on the contract’s specifics. EiLEENO is expected to conduct 10 or more scans per day and for at least 250 days per year. Nanox will collect $7 per scan. Based on this, the contract is worth a minimum of $17.5 million annually in recurring revenue. 10 scans per day is conservative with Nanox expecting scans per day to be to 20 on average which would mean $35 million in annualized revenue.
In total, Nanox now has 6,150 units under contract (pending regulatory clearance) which would translate into a minimum of $166 million in annualized revenue and likely much more. It also has another 5,500 units in strategic collaboration agreements with its partners in the USA, Korea and Vietnam. It’s unclear how this will impact sales growth.
In the same Healthcare conference Ran also reiterated the following:
- Nanox will move into their permanent South Korea factory by 2022
- Nanox will begin broad deployment of Nanox.Arc in 2022 meaning multi-source will have already been cleared
- “Our issue is not demand. We have huge demand.”
There have already been distribution and regulatory set-backs for Nanox and there is no guarantee those will end. For me, Nanox is a small position as I passionately believe that is all we need today if the organization’s mission comes to fruition.
Click here for my broad overview of the company.
Click here to access the full Ladenburg Thalmann interview
2. Tattooed Chef enters Kroger
A few weeks back, Twitter dug up brand new listings of Tattooed Chef products on the Kroger website (twitter is awesome). This Monday, the company officially announced it was entering Kroger stores nationwide.
The distribution agreement is for 12 stock keeping units (SKUs) including newer products such as its veggie hemp bowl and several products containing its plant-based pepperoni. Clearly, Chef Sarah Galletti’s creative vision is working.
Starting in September, Tattooed Chef will be available in 1,800 Kroger stores which represents 55% of its total locations. If all goes according to plan, it will slowly enter the remaining stores over time.