Benzinga | Jul 12, 2021 08:33AM EDT

NANO-X, EiLEENO Pharma Ink Distribution Deal For Imaging Solutions In Nigeria

* NANO-X Imaging Ltd (NASDAQ:NNOX) signs an exclusive distribution deal with EiLEENO Pharma to deploy Nanox's medical imaging services in Nigeria, marking its entry in West Africa.

* The Nanox System is composed of the Nanox.ARC, a medical imaging system incorporating a digital X-ray source, and the Nanox.CLOUD, a companion cloud-based software.

* Subject to regulatory approval, Nanox and EiLEENO Pharma will collaborate on the deployment and operation of 1,000 Nanox Systems.

* According to the agreement, EiLEENO Pharma will commit to a minimum annual service fee to Nanox.

* The agreement has an initial term of four years and is renewable for an additional period of four years.

* Price Action: NNOX shares are up 1.25% at $31.59 during the premarket session on the last check Monday.