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By Elena Vardon
Ilika PLC said on Monday that it has signed a memorandum of understanding to transfer the manufacturing of its batteries to one of Cirtec Medical's facilities.
The solid-state battery technology company said it sees the partnership leading to the signing of a contract in due course.
The companies will collaborate to manufacture and commercialize miniature Stereax solid-state batteries from the medical design developer's facility in Lowell, Massachusetts, it said.
Shares at 0844 GMT were up 3.0 pence, or 8.6%, at 38.0 pence.
Write to Elena Vardon at elena.vardon@wsj.com
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