Remote Monitored Systems plc (LON:RMS) has issued the following update on its wholly owned subsidiary Pharm 2Farm Limited (“P2F”).
P2F is continuing to receive enquiries from prospective distributors and purchasers for its viricidal mask and now anticipates that future demand for its mask may outstrip the production line capacity of five million viricidal face masks per month.
To fulfil part of the anticipated excess demand, P2F expects to supply its patented filter material, initially, to certain partner mask manufacturers, until P2F has itself procured additional production lines.
Over the weekend P2F signed binding heads of terms with a manufacturer of surgical masks in Germany. The German manufacturer will subcontract to supply complete masks to P2F to the P2F specification and brand name, and also purchase P2F filter material for their own brand masks. Under the heads of terms the manufacturer will also develop and supply anti-viral C-Fold masks using P2F filter material to extend P2F’s market reach. The heads of terms are subject to final contractual agreement between the parties.
Remote Monitored Systems will provide further updates to the market as appropriate.