Netscientific Share News (NSCI)

AIM-listed NetScientific, a biomedical and healthcare technology investment group, has formed a strategic alliance with San Francisco-based Breakout Labs, it announced Wednesday. Under the agreement NetScientific will invest up to $0.25m in Breakout Labs portfolio companies that fit its investment priorities in advanced medical technologies. Breakout Lads supports early-stage companies working on technological breakthroughs and was an early investors in both PayPal and Facebook. "Over the past two years Breakout Labs has proven new funding models that help advance research out of the lab and into the world at large are sorely needed," said Farad Azima, Chief Executive of NetScientific. "This partnership provides NetScientific with access to some of the most revolutionary new technologies coming out of Silicon Valley and beyond. We're impressed by Breakout Lab's ability to identify and foster revolutionary life science companies and look forward to working with them to help support a new wave of scientific innovation."The first company NetScientific is planning to invest in is Cytovale, which is developing a new class of diagnostics using biomarkers based on the mechanical properties of cells. NetScientific's shares fell 3.83% to 113p by 13:45. NR