Cuprina Holdings Stock Skyrockets 279% on Tech Deal

Shares of Cuprina Holdings (CUPR) skyrocketed a staggering 278.92% in after-hours trading, reaching $2.66 after the company announced it has secured exclusive licensing rights to a UN-validated medical waste recycling technology for Southeast Asia. The deal is being hailed as a significant potential growth catalyst for the biotech company, which had closed at just $0.70 per share before the announcement.

The licensed technology, validated by the United Nations Industrial Development Organization (UNIDO) and the Global Environment Facility (GEF), utilizes high-temperature steam to sterilize medical waste. It then converts plastics from the waste into valuable resins, offering a solution to the toxic emissions from traditional incineration methods. This innovative approach also addresses the growing problem of landfill capacity, a particularly pressing issue in densely populated regions like Singapore, the initial market for this license.

and is projected to reach $59.42 billion by 2030, with the Asia-Pacific region showing the fastest growth. Cuprina's deal positions it to capitalize on this expanding market. The license initially covers Singapore, with options to expand into ten other Southeast Asian countries, representing a substantial long-term growth opportunity.

Cuprina's CEO, David Quek Yong Qi, emphasized the significance of this agreement, stating that it introduces a globally validated technology to the region. The market's reaction was immediate and dramatic, with the company's market capitalization jumping to $14.95 million. This surge reflects high investor confidence in the potential of this new technology to transform Cuprina's business and address a critical environmental and health issue. demonstrates the market's enthusiastic reception of this strategic move. Investors will be closely watching Cuprina's progress as it begins to implement this groundbreaking technology in Singapore and potentially across Southeast Asia.