In a detailed interview with London South East, SpectrumX CEO Damien Hancox told us that he hoped the pharma/healthcare business would IPO in a Standard Listing on the London Stock Exchange in mid-November.
"To date we have raised five million in convertible loan notes out of a potential £8 million, and in terms of valuation we are looking at conservatively £50 Million. We chose the Main Market because the appetite and liquidity is better suited to us."
For thirty years the US partner company Spectrum Antimicrobials has been working on a way to make hypochlorous acid or HOCL work in the real world. And now they have cracked it and come up with what they hope is a gamechanger for the pharmaceutical and healthcare sectors.
As CEO Damien Hancox describes it: "What we have is a licence for a truly unique formulation of hypochlorous acid, (HOCL). Hypochlorous acid is a chemical compound which is produced within the body by our white blood cells to fight off bacteria and pathogens - its why we are still alive today".
"We have a unique patentable formulation of the product, for the first time a stable formulation with additives and stabilisers which means we are able to have a patented, protectable commercialisation of the chemical" he explained. "A provisional patent in the States has been applied for and we are in the process of converting that into a utility patent currently."
There is a broad spectrum of uses for the product according to Damien. "HOCL is actually the most potent sterilisation tool available to mankind, so there are multiple uses for the product. We are focusing on the uses in the pharmaceutical, sterilisation and cosmetic industries".
"Our first product launch is going to be our SPZ069, our nebulised inhalant treatment for respiratory infection. Currently we are implementing that with Covid-19, but the product will be effective against all bacterial and viral infections such as pneumonia, bronchitis, influenza and common cold - across the whole spectrum of infections including MRSA."
"The UK and EU market for respiratory treatment is roughly 5 billion dollars and we would hope to target the majority of that segment with this treatment. We hope that within 24/36 months we would be addressing 'between 600 and 800 million dollars of that' said Damien.
"As for healthcare, we currently produce the most powerful hand sanitiser on the planet, [Spectricept] it's about 4 times more effective than 90% ethanol without the skin irritation side effects. We will roll out our 'Say No to Alcohol' campaign in schools this Autumn."
For more information on the company please visit https://spectrumx.com/.