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....so true. Great thoughts!
For those interested, a bit of reading from the European Centre for Disease Control from earlier this month, highlighting the increase in STI’s (including Syphillis, one our new tests), and commenting about how early testing is crucial. Just seems to me that the “embarrassment” factor might stop many from going to the docs, another reason why discrete at home LFT testing might benefit.
https://www.ecdc.europa.eu/en/news-events/sti-cases-rise-across-europe#:~:text=In%202022%2C%20the%20number%20of,and%20chlamydia%20cases%20by%2016%25.
We love you Muck165, that excitement just keeps on growing. When those interest rates in the UK finally drop (hopefully this year), you just watch this investment take off. Really believe my" Luks in" this time!
If these new tests are built on the Senzo ALF platform, then that might well explain Yates decision to invest because everything I’ve read suggests that historically LFT’s have struggled in the STI market because achievable sensitivity was too low and that is precisely what the ALF platform addresses.
I enjoy it Metatron - gives an old fogey something to do!
As I say, I do have a suspicion that these new tests may be built using the Senzo amplification platform. I’ve already given some reasons why in earlier posts, but another is that this lady regularly began reacting to ABDX posts from at least 4-5 months ago, and she very quickly reacted to Abingdon’s LinkedIn post about our new relationship/investment by commenting; “ Congratulations, Chris and team. Desperately needed tests for individual health and public health.”
Why is that relevant - well she is an IVD consultant who has been advising a company called Bioadvance Ventures since 2022, a VC company that counts Senzo as one of it’s investee companies.
https://www.linkedin.com/in/cfinkmdte/
https://www.bioadvance.com/portfolio/
Very interesting read today Muck.. thanks for the sleuthing you first class sleuther
By trawling through various US state registries I’ve now found Find Out From Home LLC, registered in Delaware on 9/8/23.
https://icis.corp.delaware.gov/Ecorp/EntitySearch/NameSearch.aspx
As you can imagine, that's how I feel Muck. To have come this far now, ABDX doesn't strike me as reckless at all. Our government, for all its faults, singled this company out in 2020. That leads me to believe they probably have many helpful contacts far and wide. So far, that's proving to be the case. Fingers crossed.
Morning Lucksin.- don’t get me wrong, I am still very positive about ABDX for very good reasons and, yes you’re right that getting a foothold in the US STI market when STI infection rates there are a huge and growing problem, is a boon. But whilst £500k may not be a huge sum, it does represent more than 10% of our last years total revenue and I think it only reasonable for any shareholder to want a little more comfort about the companies and people were investing in, particularly when we’ve been so focussed on getting to cash flow positive. So I was disappointed ABDX couldn’t be more forthcoming.
But strangely, it’s Yates willingness to make this play when break even is so paramount that gives me the most comfort. I just can’t see him doing it unless he was forced to (and if that were so I’d have thought he’d drives much better deal), or that he sees huge potential.
https://www.nbcnews.com/health/sexual-health/sexually-transmitted-infection-rates-rose-older-people-cdc-rcna145332
...on the positive side, you did receive a response and 500 k isn't a vast sum for an opportunity in a US market. With ABDX's fingers in so many positive pies, can we not just wish them well.
For info, I wrote to ABDX For more info about Devyn, FOFM, or Yannick Namia given none appear to have much, if any, online presence. Disappointingly, ABDX simply replied to say that parties they’ve contacted with are registered in the USA - they gave no other pointers or comfort, despite our potentially waiving £500k in fees to acquire equity.
From what I’ve been able to ascertain from my own searches, Yannick Namia is a bit of a serial entrepreneur in the health and well-being space, who says his businesses have turned over €100m. He had a business, Devyn LLC, registered in Austria which he voluntarily liquidated last year - it apparently had €710k capital assets on liquidation. During Covid he ran a home testing service company in California, and now runs business promoting sexual education and health. He also has a business, Devyn Inc registered in Florida, which became Devyn LLC in 2022. I am assuming this is who ABDX contracted with. I can find nothing about FOFH.
So, it looks to me like we’ve been developing tests for a serial entrepreneur about which I can find little, and are intending to spunk £500k fees for equity in his business. I still think these tests might well have something to do with Senzo, and very much hope that Yates sees significant potential for a £500k fee waiver, but I have to say that Abingdon have been extremely poor when responding to my simple requests for comfort and clarification in this respect.