Shares of Dynasil Corporation of America (NASDAQ: DYSL), a provider of technology, products, services and solutions, are seeing a huge rally in trading today after the company announced that it signed a technology collaboration agreement with Mayo Clinic.
DYSL shares rose to an intra-day high of $2.35, and at last check, the stock was trading 25.19% higher at $1.69 on above average volume of 288,277.
DYSL said that the first project under the collaborative agreement will focus on the development of a therapeutic hypothermia core cooling technology designed to protect the brain during cardiac arrest and traumatic brain injury.
Dynasil and Mayo Clinic are working closely on a blood storage technology. Steven Ruggieri, President and CEO of Dynasil, said that the agreement establishes the intellectual property and commercialization framework through which DYSL and Mayo Clinic will advance early-stage innovations to patented products for therapeutic applications.
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