The share price of DOD Biotech Public Company Limited (DOD) rose ฿0.80/share or 5.88% to ฿14.40/share as of 10:22 local time in Thailand on Wednesday with a trading value of 455 million baht.
The company stated that on March 16, 2021, the company entered into a memorandum of agreement with Beauty Community Public Company Limited (BEAUTY). The company is the contractor for research and development, as well as manufacturing products of dietary supplements skincare which contain hemp as an ingredient for BEAUTY, to sell in both domestics and international markets. This memorandum of understanding is effective for the period of 2 years.
With this regard, the production and distribution of products, mutually agreed upon, await approval from the Food and Drug Administration.
Within half a month, DOD has signed three MOUs, starting with an MOU with JKN Global Media Public Company Limited (JKN) to develop around 10 products of hemp-based supplementary foods and beverages, which will be sold online and promoted through channel 8.
Afterward, the company joined hands with Chayo Group Public Company Limited (CHAYO), a debt management and collecting company, as a supplier of hemp seeds and the developer of the dietary supplements containing hemp as an ingredient for distribution.
In the latest movement, DOD has cooperated with Rojukiss International Public Company Limited (KISS) for research and development, as well as manufacturing products of dietary supplements skincare which contain hemp as an ingredient for KISS to sell in both domestics and international markets.