Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Https://uk.advfn.com/stock-market/london/frontier-ip-FIPP/share-news/Frontier-IP-Group-plc-Exscientia-announces-collabo/92091952
" Portfolio news - Exscientia announces AI drug discovery collaboration with Merck KGaA, Darmstadt, Germany worth up to $674 million
Frontier IP, a specialist in commercialising intellectual property, today notes the following announcement from portfolio company Exscientia plc ("Exscientia" or the "Company") of a new collaboration with Merck KGaA, Darmstadt, Germany, ("Merck") focused on the discovery of novel small molecule drug candidates across oncology, neuroinflammation and immunology.
Under the terms of the agreement, Exscientia will receive an upfront cash payment of $20 million from Merck and will be eligible for discovery, development, regulatory and sales-based milestone payments of up to $674 million in aggregate if all milestones for three initial programmes are achieved.
Frontier IP holds a 0.4 per cent equity stake in Exscientia.
Exscientia statement begins:
-- Exscientia Announces AI Drug Discovery Collaboration with Merck KGaA, Darmstadt, Germany
-- Collaboration will leverage Exscientia's precision design capabilities to focus on previously unsolved drug design challenges
-- Exscientia is eligible to receive up to $674 million in discovery, development, regulatory and sales-based milestones for three projects, in addition to single to double digit royalty payments on net sales
-- Up to $113 million of potential milestone payments in the discovery phase, with $20 million upfront at initiation for three projects
OXFORD, U.K. Exscientia plc (Nasdaq: EXAI) today announced a new collaboration with Merck KGaA, Darmstadt, Germany focused on the discovery of novel small molecule drug candidates across oncology, neuroinflammation and immunology. The multi-year collaboration will utilise Exscientia's AI-driven precision drug design and discovery capabilities while leveraging Merck KGaA, Darmstadt, Germany's disease expertise in oncology and neuroinflammation, clinical development capabilities and global footprint.
Three potential first-in-class or best-in-class targets have been identified as the initial focus of the partnership. The collaboration allows Merck KGaA, Darmstadt, Germany and Exscientia to identify additional targets in oncology and immunology or other mutually agreed disease areas. Should Exscientia identify additional targets for the collaboration, the company would be responsible for target validation in addition to drug design and eligible for additional discovery milestones.
etc"
Loads of news from The Vaccine Group (TVG) over the last 2-3 months now suddenly on the web site:
Https://thevaccinegroup.com/news/
Which is probably not unconnected to this in particular:
Https://thevaccinegroup.com/sp-global-interview-tvg-eyes-investment-to-support-newly-extended-vaccine-pipeline/
The relatively small amount under discussion should be easily achievable given the news flow and prospects.
Trying to sell what I bought @41p...but NM
always trade against ST is my iron rule
Tipped overnight - as these articles are usually subscriber-only here's the intro and conclusion:
"A tech bargain buy on a 57% discount
Shares in a cash-rich technology investment company are trading on a huge 57 per cent discount to book value"
"Fieldworks funding round exceeds target
Pulsiv makes heavyweight appointments
Frontier IP’s share price on 57 per centdiscount to NAV"
"The 24-month bear market in Aim-traded shares has not only led to a 44 per cent decline in the FTSE Aim-AllShare index, but it has created some eye-watering deep value opportunities to exploit. Edinburgh-based Frontier IP(FIPP:38p), a technology investment company that provides commercialisation services to university spin-outs in return for ‘free equity’ stakes, falls firmly into this category.
To put the scale of its undervaluation into perspective, the group’s last reported net asset value (NAV) of £49mn (88.2p) is 132 per centhigher than its £21.1mn market capitalisationeven though Frontier held net cash of £5.85mn(10.5p) at the start of 2023. Since then, it has sold down £1.5mn shares in Nasdaq-listed Exscientia (US:EXAI), a clinical-stage pharma technology company pioneering the use of artificial intelligence (AI) to design new drugs.Frontier still holds 0.49mn Exscientia shares worth $2.7mn (£2.2mn).So, after factoring in estimated operating costs of £1.5mn for the first half of 2023, and a post-period £1mn investment in Cambridge University spin-out CamGraPhIC, a developer of graphene-based photonics technology for optical transceivers, I estimate that the liquid stake inExscentia and pro-forma cash account for £7mn(12.5p) of NAV of £49mn.
It means that ignoring goodwill of £2mn on the group’s balance sheet,other investments worth £40mn (72p) are in the price for £14mn (25p), or 65 per cent below their carrying valuations. That’s an absurd discount given the progress being made by multiple investee companies."
"Frontier’s de-rating a buying opportunity
Frontier’s share price has fallen 40 per cent since the interim results in mid-March, a de-rating that is in no way a reflection of the operational progress of its investee companies. Rated on anunwarranted 57 per cent discount to NAV, the shares rate a bargain basement buy ahead of annual results in mid-November. Buy."
Https://www.investorschronicle.co.uk/ideas/2023/09/11/a-tech-bargain-buy-on-a-57-discount/
GLA
Today's RNS Reach is important and excellent news for Pulsiv.
Two excellent captures for Chairman and Chief Product Officer, and nice commentary from FIPP's and Pulsiv's CEOs:
Https://uk.advfn.com/stock-market/london/frontier-ip-FIPP/share-news/Frontier-IP-Group-plc-Portfolio-news-Pulsiv-app/92004699
"Pulsiv has now developed a global distribution network and has attracted significant industry interest, including a collaboration with Salom, a major manufacturer of power supplies. Mark and Tim's long and successful history of building businesses and products will prove invaluable as Pulsiv now enters an exciting stage of its journey to become a significant green technology business."
" Pulsiv CEO Darrel Kingham
"Pulsiv has all the technology and talent to become a global leader in power conversion technology. With 52 fundamental granted patents and a further 31 patents pending, Pulsiv is perfectly placed to be disruptive and offer something new to the power electronics industry. Their simple business model coupled with their deep IP portfolio and an experienced management team is highly analogous to ARM computing for power conversion. I am honoured and privileged to join the team as Chairman at this very exciting time for the company."
Pulsiv Chairman Dr Mark Gerhard
"I have been involved with Pulsiv since 2021 and have seen the excellent progress that the company has made since then. Its technology has the potential to be highly disruptive across a very broad range of applications. Pulsiv OSMIUM can improve the efficiency of electricity conversion in a cost-effective way by using readily available electronic components. What is so exciting is that the technology is ready now to reduce bills for consumers and rapidly drive the much-needed decarbonisation of our economy. I am thrilled to have the chance to join full time and use my experience to drive positive impact in the green economy."
Low liquidity. Pulsiv, Alusid and couple of others is making great progress in the background.
Apart from the usual market malaise and a lack of anything positive, does anyone have an idea why we have had such a steep decline recently?
Well, that didn't last lol
So bought a few back
Great spot Rivaldo!
FIPP own 24.5% of Fieldwork Robotics, which has just raised £1.5m in a new funding round and received great PR in today's Times:
Https://www.thetimes.co.uk/article/fieldwork-robotics-unjams-shortage-of-fruit-pickers-with-ai-raspberry-harvester-99wtbjx53
"Fieldwork Robotics unjams shortage of fruit pickers with AI raspberry harvester
Thursday August 10 2023
The shortage of seasonal fruit pickers could be solved by using artificial intelligence, according to the boss of a company that has a robot raspberry harvester for hire and now has backing from a private equity firm.
Fieldwork Robotics has received £1.5 million in seed investment from Elbow Beach Capital, an investor that previously backed companies automating broccoli and asparagus harvesting.
The challenge of automating the picking of soft fruit has eluded entrepreneurs for years and while several attempts have been made at strawberry-picking machines, the even more delicate raspberries have remained untouched by mechanical hands.
Fieldwork’s two Alpha robots have been at work in Portugal and an updated Alpha 2.0 is in the works. It will be able move at a human pace of picking about 2kg an hour, without breaks or distractions, the company claims.
David Fulton, chief executive of Fieldwork, said: “The human does an eight-hour shift; we can do three times that. When you consider the cost of waste, too, the unit economics actually starts to deliver a payback within less than two years.”
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Alpha is equipped with an AI-powered camera that identifies the level of ripeness of each raspberry. A robotic arm then extends and plucks the berry using a cup-shaped hand with an inflatable membrane that aims to imitate a careful human grasp.
The Cambridge-based business was founded in 2016 and was spun out of the University of Plymouth. Fulton hopes to use the cash injection to refine the technology and branch out to other soft fruits. Expanding in the global raspberry market, which Fieldwork estimates at more than £1.5 billion, is constrained by the need for the raspberries to be planted in certain formations.
Jon Pollock, chief executive of Elbow Beach Capital, said: “Agriculture as it stands is not fit for purpose and we need innovative technologies to alleviate the unsustainable levels of waste and improve the economics for the farmer and end-customers in the sector.”
Https://www.wsj.com/articles/biotech-stocks-join-ai-fueled-rally-86c0b838?siteid=yhoof2&yptr=yahoo
Kind of makes sense that Exai should be a beneficiary in the attention that AI is getting. I’ve maintained for a while the value is in the use of ai not in its design and supply so have stayed well clear of the magnificent seven, perhaps to my cost. Time will tell on that decision. Meanwhile FIPP at less than 50% of NAV where NAV is book value and understates its value, seems the better investment to me
FIPP will now have early access to a new range of European investments:
Https://www.frontierip.co.uk/frontier-ip/emporia4kt-reaches-concludes-successfully/
"Emporia4KT reaches concludes successfully
26/7/2023
Frontier IP, and its Portuguese subsidiary, FIP Portugal, successfully developed a range of tools to support technology transfer across Europe’s Atlantic Blue Economy as part of a major pan-European project backed by EUR 2.8 million in funds.
The four and a half-year project, called Emporia4KT, was launched in March 2019 to strengthen knowledge transfer and value creation and supported by the European Regional Development Fund’s INTERREG Atlantic Area programme. It brought together academic, business, societal and government stakeholders from five countries on Europe’s Atlantic seaboard – Portugal, Spain, France and the United Kingdom. Initially, there were 12 partners and three associate partners involved, but this was later extended to 17 partners and, geographically, to the Canary Islands.
Frontier IP’s role in Emporia4KT was to lead one of the work streams and create risk assessment tools for business projects, including an Attrition Model, to help potential spin outs develop commercialisation road maps for their early-stage technologies and improve their chances of success.
Researchers supported by Emporia4KT and Frontier IP are developing a range of early-stage technologies. Potential spin out companies and ideas include:
Polivercrete: a technology based on polymer-modified concrete that uses plastic waste ground into a fine aggregate to replace sand in concrete and mortar. The material has the potential to cut plastic pollution and reduce the environmental and social impact of extracting sand.
Fast and Fishious: is developing environmentally friendlier methods to farm fish. It is also seeking to market farmed and processed golden grey mullet under the brand name Canary Rockcod as a cheap and healthy foodstuff, initially in the Canary Islands.
Subcritical Water (SCW): the technology recycles waste from processing cod [and other fish] into protein hydrolysate and hydroxyapatite, which have broad applicability in the food and biotechnology industries.
Floating Bubble Hotel: is looking to create domes on floating platforms for use as hotel accommodation on water.
WavePlat: the technology converts wave energy into electricity and is designed to support facilities in deep water, such as offshore fish farms. It is modular and can be configured in various ways.
A further project is exploring the use of metabolites from marine algae for anti-parasitic treatments, especially Naegleria Fowleri parasites, also known as brain-eating amoeba, which has a mortality rate of more than 97 per cent.
Seafood sustainability index: technology to provide benchmarks for assessing the environmental and societal impact of seafood production. Initial works is to focus on salmon fillets.
Frontier IP also developed a Blue E
The valuations of all the investments of these listed pe groups is based on what?
last funding rounds?
but the market (esp exit market) has cratered/evaporated...so this looks like mark to make believe
burning £3-4m a year on salaries etc with funding rounds (probably down rounds) waiting for an exit market to re-emerge...bloody uncomfortable
Great find Rivaldo, thanks.
I'd not really appreciated until I looked at their web site the applicability goes beyond floor tiles - walls, furniture, worktop surfaces - the technology has a vast application beyond the current focus. Also the aesthetic is impressive!
See: https://www.alusid.co.uk/projects/
Lots to like about quiet unassuming FIPP.
Alusid news:
Https://hoteldesigns.net/member-news/parksides-new-principle-on-mass-production/
"Parkside’s new Principle on mass production
July 11, 2023
The Principle Collection, from Parkside and Alusid, represents a huge step forward for the ceramic tile industry as the world’s first mass produced 95 per cent recycled content tile…
With a tile body made entirely from by-products (post-consumer recycled glass and ceramic) of other manufacturing processes, Principle from Parkside, is based on technology that has taken a bold leap from a small batch production to a fully scalable process. Made by adapting the tile body to work in standard ceramic production facilities, the tile achieves a similar like-to-like cost as some other twice-fired tiles.
The original Sequel Vibe requires making each tile by hand from low value glass and ceramic waste with capacity of approximately 50 square metres per week. The new technique developed for Principle uses the same low value materials, but sources them after a further production process for finer granules that can enter the machine-operated ceramic tile production cycle. In turn, Principle enters the world of scalable production with current output of 1,000 square metres per day.
etc"
Thanks, Acuere. That is encouraging.
In last 3 months we have seen Fipps 3 largest holders, Cannacord, Quilter, Octopus, all announce reductions in their holdings. I believe one or more of these are still selling and with no news and so few buyers about the price continues to fall away.
I have looked at all the companies today and whilst a couple of the 20 holdings look a bit grim there is nothing to warrant the fall to the current market cap. Indeed many of them continue to make good progress.
It was only in March they told us NAV was 88p and Singer rated them a Buy with target price of 125p. So even if NAV has fallen 10% we are trading at a 50% discount which seems oversold.
Put another way.
Exscientia worth £2.4M
Pulsiv 18% is £9.5m
Vaccine Group £5.5m
Cash about £6m.
So they’re worth £23.4m against a market cap of £22m.
So all the other companies are thrown in for free, including the 38% of Alusid which has been touted as having a value of £10m.
FIPP's share price has fallen badly out of bed recently, yet I have not seen any bad news to justify this. Does anyone know why the drop is occurring or is just general market malaise?
I’ve listened to last weeks PowerUp Expo conference where Pulsivs Darrel Kingham was on a panel.
He stated that companies are looking for maximum effiency performance and they have been working with partners to achieve this.
And that “they will shortly be releasing reference designs and news in the not too distant future where we’ll have some new topologies and partnerships where we will be showing even better performance “
Current market cap of £23.6m will look ridiculous when this news released.
Interesting. I also follow Sivers Semiconductors in Sweden which has a photonics business that’s getting excited about potential business from tier 1 oems. Risk I see there is multiple suppliers are in play and who will ultimately win
New video interview of Alusid's CEO about the Topps Tile deal - interesting comment that Alusid have partnerships with large brands which he can't talk about as regards international growth:
Https://www.youtube.com/watch?v=Bo3_i_xZXFM
It looks like things could be happening at CamGraphic(20.8%). Remember this was said in an RNS last August.
“The technology has attracted interest from major multinationals in the semiconductor and telecommunications sectors. Customer testing is expected to begin in September.”
Now look at the jobs currently being advertised on their website.
hTTps://www.camgraphic-technology.com/jobs/
Significantly now appointing a CFO, under whose job description it says
“The company has just completed Round 2 funding (£2.2 m) and is midway through Round 3 to support design optimisation of the technology for multiple applications.”
Also the Contract and compliance lead.
“ This is a newly created role as a result of expansion of our activities.”
The current SP is really not reflecting what’s happening with the portfolio at the moment.