Australia's BluGlass rises after signing agreement with US firm

By Reuters News

** Shares of BluGlass BLG.AX rise as much as 12.2% to A$0.275, their highest since September 9

** Stock logs its largest intraday pct gain since August 31

** Semiconductor developer enters into early-stage collaboration with US-based photonics co Coherent COHR.N for the development of gallium nitride device used in microscopes, MRI systems and in the telecommunications sector

** Collaboration valued at A$286,000 ($203,832.20), with the initial feasibility study expected to run for three to five months

** Jointly developed device is being designed to address emerging scientific and medical applications requiring high-performance visible-wavelength laser technology - Co

** YTD, stock up over 6%

($1 = 1.4031 Australian dollars)

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