Why the Dotz Nano (ASX:DTZ) share price is up 11%

Dotz Nano Ltd (ASX: DTZ) shares are on the rise today after the company announced its saliva-based COVID-19 testing kit has received approval for use in the European Union (EU). At the time of writing, the Dotz Nano share price is trading 10.91% higher at 30.5 cents.

By comparison, the All Ordinaries Index (ASX: XAO) is up 0.42%.

Let’s take a closer look at what the company announced.

Approval to sell testing kits in Europe

The Dotz Nano share price is racing today after the company advised the EU has granted it permission to use the CE Mark on its COVID-19 saliva testing kits.

The CE Mark is a requirement to sell medical products in the EU. Some EU countries will also have additional regulatory hurdles to clear. The…