Shares of touch screen technology developer, Neonode Inc. (OTCBB: NEOND) were up 5.6 percent in late-morning trading on Thursday after the company announced a licensing deal with Taiwanese consumer electronics maker ASUSTeK to develop a series of products that will include Neonode’s zForce® optical touch screen solution.

Neonode shares touched a new 52-week of $3.75 on Thursday, up from Wednesday’s closing price of $3.55.

“I firmly believe that the combination of our low cost high-performing touch screen and the outstanding know-how and experience of ASUSTeK will make this a win-win for both ASUSTeK and Neonode,” said Neonode’s CEO Thomas Eriksson in a statement.

Neonode provides optical touch screen solutions for handheld consumer and industrial electronic devices in Sweden and internationally. The company’s touch screen solutions are based on zForce, an optical infrared touch screen technology that supports one-handed navigation allowing the user to operate the functionality with finger gestures passing over the screen; and Neno, a software-based user interface.

The Stockholm-based company effected a 25 for 1 reverse stock split on March 28. Since then, shares have been up as much as 25 percent.