Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Also worth remembering that the Health Ombudsman published a damning report on the state of U.K. Sepsis care in the Autumn, nicely titled “TIME TO ACT Severe Sepsis: Rapid diagnosis and treatment saves lives”, and in that report identified that NHS cost savings of £196m p/a could be achieved if that were to happen.
A great time to be launching this 3x more sensitive and 10x faster diagnostic into the U.K. market, and I think a great opportunity to get in or add here if you can before formal announcements are made.
https://www.ombudsman.org.uk/sites/default/files/Time_to_act_report.pdf
Really excited by this - to give a flavour of the market you need only look at this from the U.K. Sepsis Trust
“Every 3 seconds, someone in the world dies of sepsis. In the UK alone, 245,000 people are affected by sepsis with at least 48,000 people losing their lives in sepsis-related illnesses every year. This is more than breast, bowel and prostate cancer combined. Globally, sepsis claims 11 million lives a year. Yet, for many patients, with early diagnosis it is easily treatable.”
https://sepsistrust.org/about/
On 16/3/23 Salignostics/Salistick became registered with the MRHA, leading ABDX to say in a 31/3 RNS - “ We were pleased to see Salistick™ achieve Medicines and Healthcare products Regulatory Agency (MHRA) approval in March 2023 and will therefore be available for sale in the United Kingdom and we remain on target for an exclusive launch of Salistick™ on the Abingdon Simply Test™ website and on Amazon before the end of this financial year.”
I am excited to see, therefore that on 14/3/24 Loop Diagnostics/Septiloop achieved MRHA registration, which I am VERY reasonably assuming means that Septiloop, like Salistick, has now achieved UKCA and can be sold in the U.K. market.
Neither Loop or ABDX have said anything about this yet, but I’m sure it won’t be long and I would imagine it will give a very nice little shot in the arm of the SP! Remember, Septiloop is one of the products that ABDX has taken through tech transfer, scale up, and into manufacturing.
https://pard.mhra.gov.uk/manufacturer-details/110414 ((Salistick registration)
https://pard.mhra.gov.uk/manufacturer-details/117995 (Septiloop registration)
https://www.youtube.com/watch?v=4Z32joS9aD4 (See slide at 11 mins in)
Further on this, but a week or so ago Upfront presented at the Cambridge Enterprise Venture Partners Investor showcase, and this would seem to be their full pitch presentation (which is far more detailed than anything I’ve seen before).
It makes for interesting reading!
https://www.enterprise.cam.ac.uk/wp-content/uploads/2024/03/240305-Upfront-LVOne-full-deck-1.pdf
....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.
Right, so ABDX finally put a media post out
https://www.linkedin.com/posts/abingdon-health_london-stock-exchange-london-stock-exchange-activity-7178041844059021313-DZLH?utm_source=share&utm_medium=member_desktop
Liked by Yannick Namia, CEO of our new investment
https://www.linkedin.com/in/yannick-namia/
Thanks Muck..
Thanks Ant, but nobody should look to me. I just post stuff I find, and my own thoughts, much of which may be irrelevant or rubbish!
But in that vein. and in the short term..
IMO this is being held back because the market is concerned about a raise. Regardless of what I think about that, a Director buy would help massively. It would show confidence in the business and indicate that no discounted raise in which they might otherwise participate is on the horizon.
Salistick FDA approval would spark interest from the many out there who think that is our one and only product.
I think we will be launching another test in boots in the pretty near future (weeks according to Crest Medical)
Muck, I think we all look to you..
So in your opinion what is it going to take to get this share moving north?
PW - thanks for posting the article, which helps describe the scale of the STI problem.
I haven't been able to shake the thought that somehow these new partners might have come through Senzo. This latest RNS says we have been working with them for 12 months, we announced the Senzo partnership almost 12 months ago to the day, and both the new partners and Senzo are based in the US.
https://www.senzo.com/newsroom/senzo-and-abingdon-health-enter-into-strategic-partnership
So this might also be interesting. Its a blog from Senzo about STI's which again details the scale of the problem and highlights that getting LFT sensitivity levels up when looking at STI conditions has been the main headwind in development. Of course, the whole point of Senzo is to increase sensitivity to PCR levels through its ALF tech.
https://static1.squarespace.com/static/63174674e5302f1a8f9e9dbc/t/659ae1c8fc1f77528ed44d4b/1704649165514/FDX+-+STI%28s%29.pdf
It does worry me that I can't find anything about our new partners, and nor have ABDX put out anything on their media feeds about this news so they're not screaming it from the rooftops - I have written to ABDX to see if they can give me anything more. But if we are looking at an LFT for STI's that meets required sensitivity thresholds then the market looks massive. And of course, by buying into a US based company we are getting a foothold in that jurisdiction.
I think the latter also.
He’s essentially making a growth acquisition from cash flow, without a raise. The fact he feels able to do that, just a week or so after confirming no raise expectation in 2024 and given his laser focus on cash flow break even, strengthens my belief that current revenues and forecasts are more than just robust.
I agree with your assessment teraferma - all looking quietly positive here now.
I would imagine it's the latter.
CY is no mug, he will be looking for a return on that investment, the fact that he's taken a director role as well, suggests to me that he thinks there is significant potential here.
Another positive for ABDX
This is interesting!
New At-Home STI Test Could Help Stop the Spread of Infection
https://www.scientificamerican.com/article/new-at-home-sti-test-could-help-stop-the-spread-of-infection/
The SP at close might give us a clue to which scenario is most likely occurring?