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Reading some of the PDS chatter in the US - obviously the share price over there hasn't reacted well to the last couple of trials/RNS' and was trying to work out why as they seemed positive on paper - the general vibe was that yes good trial outcome but to take it to next level needs influx of cash which will dilute the existing shareholders. Maybe also because it's not high enough outcome percentage to make it a lottery ticket outcome - sure it reduces risks and prolongs life but only by a bit, it's not a cure / gives you 20yrs.
Seems a strange way around to look at it, what would happen to share px if trial results were poor???
Anyway there's also all sorts of talk of govt intervention to reduce drug prices in the US which is weighing on a lot of healthcare/biotech stocks and people seem to be repricing the value of a new drug with that in the back of their mind.
There was no reaction by PDS shareholders yesterday so wasn't expecting any here as is the case as of 08:38. I think the PDS101 and other candidates are incredibly exciting. Avacta is up over 100% on its recent lows because of a similar prospective excitement about its ability to target chemotherapy. But NSCI (whose largest holding is PDS) and PDS are being overlooked right now. I think part of the problem is the news was circumstantial over a small dataset rather than a definitive "Phase 3" outcome.
No position myself but should be a good day here
The overall portfolio of investments made looks promising and tge IC article is balanced and well- articulated IMO. My initial modest buy at 60.92p is showing as a ( sell) as it was kindly executed by my broker below the mid point of the ( bid- offer). A long- term hold I hope.
A medtech stock with potential to treble in value.
The investment company’s portfolio is worth 151 per cent more than its market cap and there are hidden assets, too.
September 28, 2023
By Simon Thompson
*First-half pre-tax loss of £1.6mn
*Fair valuation of portfolio down from £41.8mn to £35.5mn (151p)
*Post-period-end disposals improve cash position
Aim-traded investment company Netscientific's (NSCI:60p) headline losses mask an improving trading performance.
More than three-quarters of the flat first-half operating loss of £1.6mn was due to the consolidated losses of two subsidiary companies: Glycotest, a Philadelphia-based liver disease diagnostics company that is commercialising new and unique blood tests for life-threatening liver cancers and fibrosis-cirrhosis; and ProAxsis, a commercial medical technology company with a focus on respiratory diagnostics. Importantly, both companies are being funded by third-party sources as they move towards the commercialisation stage and do not require funding from Netscientific. Excluding Glycotest and ProAxsis, the group operating loss more than halved to £0.3mn.
Moreover, current borrowings of £1.5mn reflect the debt of the two subsidiaries. At a parent level, Netscientific had net cash of £0.3mn on 26 September 2023 and it holds 1.33mn shares worth £5.5mn (23.5p) in PDS Biotechnology Corporation (US: PDSB – $5.10), a $157mn market capitalisation clinical-stage immunotherapy company developing cancer immunotherapies and infectious disease vaccines based on its proprietary Versamune T-cell activating technology platform. The fall in PDS’s share price proved a £9.4mn drag on the portfolio valuation, but this was partly offset by net gains of £3.1mn from three other holdings: Vortex Biotech, Q-Bot and DName-IT.
The group’s 25 per cent stake in Vortex Biotech quadrupled in value to £2.8mn after the company raised £3.2mn in an enterprise investment scheme (EIS) investment round in June 2023. It was led by EMV Capital, the group’s corporate finance boutique. Vortex’s core technology allows for the capture and isolation of high-quality circulating tumour cells from blood samples.
University of Leuven spin-out DName-IT has developed a platform to avoid sample authentication errors and to correct for sample contamination in genetic sequencing laboratory tests. The company operates at the crossroads of the major, growing markets of liquid biopsy, laboratory services, clinical trials and next-generation sequencing. A recent £0.5mn EIS investment round led by EMV Capital increased the valuation of the group’s 36.9 per cent stake from £0.1mn to £1mn.
Netscientifc also booked a £0.3mn gain on its £4.1mn holding in Q-Bot, a London-based robotics and artificial intelligence company that has developed a patented energy-saving ro
50k of straight buys today.
Happy to take that.
News must be due again
PDSB back to half our MCap. Just the start imho.
When will the market take the hint?
Biffa, totally agree with your assessment.
I hold both AVCT and PDS (via NSCI) and both achieve the same outcome via different approaches (for different forms of Cancer). Both using an existing drug (Keytruda and Doxorubicin) and enhancing that, at a relatively lower risk.
Speaking of pairs. I'd also call out Sofant as another exciting NSCI holding. There's a positive read across from MWE (MTI Wireless) who also design and supply antennas. They spoke of Defence & the 5G rollout as having very positive prospects.
I do think that PDSB will hit the $1B valuation, $25+, if the readouts continue to impress.
It is not just one drug but the whole platform that will come through.
That will add £20M+ to our valuation and take us over £2.00.
Add in the rest of the investments and 60p is just crazy. If Glycotest comes in you are looking at £3, £4 or £5 a share.
So far I have from the latest results and recent RNS.
Vortex £3M
SageTech £1M
QBot. £3M+
PDSB. £6.5M (@ $6.00)
DNAME. £1M
Cytrovale £1M
EMV. £5M (Premiums being paid everywhere for fund /asset managers)
Cash. £1M
Total £21.5M vs MCap of £14M
The ones above have real world values and are worth more than our Market Cap.
Glycotest is valued at another £11M in the books. Sale/fund raise before end of year.
Proaxis is valued at another £3M + in the books. Sale/fund raise before end of year.
Plus another 25 investments.
Insane value.
Phase iii protocol submitted to fca. Targeting 4th qtr trials….
Another presentation from CEO Frank Bedu-Addo of PDS. Q2 results out on Monday (14th)
https://www.youtube.com/watch?v=tf8FGxVJ3SI
Nothing new - but it sums up why PDS has exciting prospects with its Phase 3 Trial and the Fast Track Designation.
If the BOD were smart they'd use some cash to buy a load of SMD at 48.55 and get 101 on Sept 8th.
But they are asleep
So far I have from the latest results and recent RNS.
Vortex £3M
SageTech £1M
QBot. £3M+
PDSB. £6.5M (@ $6.00)
DNAME. £1M
Cytrovale £1M
EMV. £5M (Premiums being paid everywhere for fund /asset managers)
Cash. £1M
Total £21.5M vs MCap of £14M
The ones above have real world values and are worth more than our Market Cap.
Glycotest is valued at another £11M in the books. Sale/fund raise before end of year.
Proaxis is valued at another £3M + in the books. Sale/fund raise before end of year.
Plus another 25 investments.
Insane value.
You sure about that Biffa?
Seems likely that the PDS shareholder presentation from earlier in the week has excited people to the “major catalysts coming in the next 12 months”
https://www.benzinga.com/general/biotech/23/07/33373627/pds-biotechnology-top-line-data-from-its-lead-candidate-points-to-promising-future-for-this-compa
Some half decent buying of NSCI followed by a straight 10% rise of PDSB stock on no news!
Lots of old dogs having a bit of a run at the moment.
OPTI 6p to 42p. A massive red stain on my IG account that has finally gone.
Can't see any reason why we won't get a bit of the action with our 30+ investments all looking a little bit better every week.
Defo time for new broker
85% placing discount- clearly have crap connections
Agricore
Have a mini special situations fund - takes no time if you are researched as they should be - it would provide £, show they can do things outside existing modus operendi - long term illiquid we will all be dead before anything happens. AND, make it more exciting so attracting new peeps.
Its too stale atm and many, like myself haven't got the time to wait another decade .Its a good one for the grandkids ISA. There is one company SMD that they could double/triple their cash in under 3 months. What's not to like? But although they are in the market, they have probably never heard of it when they should be chucking £1m in and making near term cash
WH Ireland note - no one reads it, or believes it if they read it and they don't get their clients to invest - best paid job for doing nothing.
Glyco – the jewel in the crown foundering for no clear reason and trying to raise 1m so they can raise big capital. Oh dear
Wanda Health, the remote patient monitoring (RPM) solution for primary care patients, continues its commercial expansion in the US. The company is working towards securing regulatory position as an FDA-approved device, as well as achieving UKCA and CE Marks which allow for the platform to be sold in the UK and the EU respectively. The company which is dually based in the UK and US also continues development of AI modules and expansion of disease-monitoring programs. In the upcoming month, Wanda plans to launch a seed funding round to support its growth objectives.
Martlet Capital, the Cambridge based early-stage investor, participated in $7.5m Pre-Series A funding for PharmEnable, which has developed a proprietary drug discovery platform, and $2.1m investment round for RoboK, which uses AI to analyse security footage for incidents in real-time. EMV Capital is an investor in Martlet Capital and continues working with the Martlet team to identify scale-up opportunities for IP rich, high growth potential start-ups in the Cambridge ecosystem.
In December 2022, Deeptech Recycling Technologies, in which we hold a 30% direct stake, acquired the majority of assets of Recycling Technologies (a business that had targeted an AIM IPO in Q1 of 2022). EMV Capital’s value creation services team is working on a relaunch of the technology platform for upcycling post-consumer packaging with advanced, environmentally sound technologies company into the rapidly growing plastics waste management space.
EMV Capital syndicated new investment for NetScientific PLC portfolio company Glycotest, a liver disease diagnostics specialist based in Philadelphia, USA. The $1m third party fundraise is intended to provide Glycotest with further capital to progress development, prepare for market launch in the US, and explore wider market opportunities. Glycotest is pioneering the commercialisation of exclusive blood tests for the detection of life-threatening liver cancers and fibrosis-cirrhosis, which is well aligned with EMV Capital's practice and investments in the field of oncology.
EMV Capital led the completion of a £500,000 investment round in its genetic analysis portfolio company DName-iT, a KU Leuven spin-out, to accelerate further industry pilots, validating its technology and commercial strategy prior to product launch and commercial sales. DName-iT is looking to support the Laboratories industry, which is under increasing pressure to deliver accurate Next Generation Sequencing (NGS) testing for eligibility for novel oncology treatments and other critical advances in personalised medicine.
EpiBone, the first and only biotechnology company to gain FDA approval for human trials for a stemcell-based tissue product, has made significant progress in biphasic bone and cartilage graft development. The company has completed pivotal equine and canine studies, with very positive feedback from its preclinical work. EpiBone is now working towards IND approval for its osteochondral graft product, as well as the completion of clinical studies for its bone graft product.
ProAxis, the commercial medtech company with a focus on respiratory diagnostics, has secured a £500,000 funding facility from AB Group, advised by EMV Capital. ProAxsis has also started a collaboration with our portfolio company Wanda Health to deliver a digitally enabled COPD diagnostic platform.
Newsletter out.
EMV Capital led the completion of £3.2m investment round for Vortex Biosciences to support its next phase of growth in the multi-billion dollar oncology liquid biopsy market. Vortex is now undergoing a technical feasibility study using clinical samples to develop a reliable workflow for enumerating and characterising Circulating Tumour Cells with a US-based biospecimen CRO, MT Group. This will lead on to a clinical observational study that will help position Vortex with key biopharma customers.
Q-Bot, a leading UK robotics company in the building retrofit space, is experiencing significant revenue growth with a continuation of record-breaking months, driven by growing public and private sector market demand, operational efficiency, and improved robot reliability. The company's commercial development is progressing at pace with recent partners including the housing group Plus Dane Housing and Watford Borough Council. The company is actively working on expanding internationally in the EU and US through partnerships, including operations now in France and the Netherlands.
Sofant, the University of Edinburgh spin-out developing satellite and 5G antenna platforms, has announced a joint development with Inmarsat Government aimed at revolutionising the communication capabilities of aircraft. Sofant is currently building its first fully integrated satellite communications terminal, representing the most significant technical milestone in the company's history and a major value inflection point in the path to commercialisation. Designed to meet SES specifications, it will enable the company to achieve its second major milestone for the €7.2M European Space Agency contract.
Following its commercial launch in the UK, SageTech Medical, the sustainable anaesthesia provider, has achieved several significant commercial milestones, including distribution agreement with Dräger UK, Manchester University NHS Trust purchase and winning its first NHS Tender. The company's efficiency has also been confirmed by the internationally renowed Guy's and St Thomas' NHS Foundation Trust, concluding that its SID-Dock capture system has high baseline efficiency of 94.8%. The anaesthetic gas capture machine is now available through NHS Supply Chain.
Yup.
20k and 16k buys.
Also Ed Hooper has taken another 40K in shares rather than cash so another effective buy.
Lastly, the options are set at 63p which again is fair as they are only in the money when the SP goes up.
Onward and upward!
Loaf of Bread 1 Jul '23 - 13:51 - 5510 of 5512 Edit
My money is on a few more director buys.
loafofbread1 Jul '23 - 19:54 - 5511 of 5512 Edit
0 1 0
Market cap after Fridays announcement is approx £100M.
Glycotest is going for the liver test but same sized market.
The market values our Glycotest investment at zero but with (delayed)results by year end you can see what could happen.
Renalytix plc
("Renalytix" or the "Company")
FDA Approves KidneyIntelX.dkd(TM)
FDA Grants De Novo Marketing Authorization for KidneyIntelX.dkd to Assess Risk of Progressive Kidney Function Decline in Adults with Diabetes and Early-Stage Kidney Disease
LONDON and SALT LAKE CITY, June 30, 2023 - Renalytix plc (LSE: RENX) (NASDAQ:RNLX) announces that the U.S. Food and Drug Administration (FDA) has granted De Novo marketing authorization for its KidneyIntelX.dkd(TM) prognostic test. This affirms KidneyIntelX as a first-in-class, artificial intelligence enabled prognostic testing platform to guide care management for adults with type 2 diabetes and early-stage chronic (diabetic) kidney disease. Renalytix believes FDA authorization will lead to increasing test adoption, informing clinical guidelines, expanding insurance coverage, and pursuing additional international regulatory approvals.
" Meeting the rigorous safety, clinical and analytical validation, and scientific data requirements of an FDA review, from Breakthrough Device designation to De Novo marketing authorization, is a landmark event for health care providers and patients with diabetic kidney disease," said James McCullough, CEO of Renalytix. "With this approval, a new class, Prognostic Test for Assessment of Chronic Kidney Disease Progression, has been established by the FDA, providing a roadmap for future expansion of KidneyIntelX into new indications and products."
KidneyIntelX.dkd accurately stratifies patients into three risk levels (low, moderate, and high). This result provides comprehensive information on patient risk for progressive decline in kidney function within five years, independently of the current standard of care measures. KidneyIntelX.dkd is the name used to differentiate tests to be provided under the De Novo marketing authorization by the FDA from those provided under the KidneyIntelX name as a Laboratory Developed Test.
Since being introduced as a Laboratory Developed Test (LDT), KidneyIntelX results have been reported on approximately 10,000 patients in the United States and there has been broad insurance payment including from Medicare and many private payers.
The KidneyIntelX platform combines blood-based biomarkers with clinical variables using an artificial intelligence enabled algorithm, providing reliable and actionable information to guide care in large, at-risk patient populations. KidneyIntelX is based on technology developed at the Icahn School of Medicine at Mount Sinai in New York, NY, and licensed to Renalytix.