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Advanced materials engineering group Versarien said it expected to enter into a formal commercial partnership 'in the near future' with an Asian-based textiles partner.
The company in July announced that it had signed a letter of intent with the potential partner, which it has not identified.
'I can confirm that advanced discussions have now been held with the intent to sign a formal commercial partnership in the near future,' chairman Neill Ricketts.
Versarien had also completed a year-long trial of a new graphene delivery method into textiles at Leeds University, he added.
'This development will allow us to expedite further commercial trials in both consumer and industrial textile applications with our current partners in these sectors,' Ricketts said.
At 1:42pm: (LON:VRS) Versarien PLC share price was -2p at 101p