Redeye views the news that the first batch of test material from the large-scale production of Nanologica AB’s silica has been approved to confirm the progress being made. The quality of the CMO Sterling Pharma Solutions in the UK is identical to the material produced at Nanologica’s plant in Södertälje, making it possible to start upscaling production with deliveries at scale towards the end of 2021. We continue to have a positive long term view on the Nanologica case with a base case value of SEK 17 per share.