The Canadian Graphene Sensors Inc. and India-based Meditel Technologies will form a new Joint Venture called Single Member LLC. Meditel will invest $36 million in Single Member and will hold 70% of the new company.
Single Member will likely commercialize Graphene Sensors' graphene-based sensor technology, and indeed it will be granted a leasing license for the GS7 biosensor technology (used for the early detection of potentially cancerous cells).
This deal follows Graphene Sensors and Meditel previous agreement (announced in February 2015) to test and evaluate the GS7 sensor. Meditel's said that the sensors could help improve nano-assisted surgeries and also help combat cardiac disease, as well as prostate and uterine cancer.