NetScientific PLC - London-based life sciences and sustainability technology investment firm - Completes acquisition of 30% interest in Vortex Biotech Holdings Ltd for GBP300,000, after being announced in early May.
Vortex is a Trans-Atlantic company operating commercially at the junction of liquid biopsy, cell analytics and oncology markets, the company explains.
The group previously held a 95% interest in Vortex US, however the company's previous management opted to sell this interest to Deeptech Disruptive Growth Investments Ltd on March 22, 2019 as it concluded that the group was no longer in a position to provide financial support to Vortex US.
Also, the company appoints Paul Jones as chief executive officer of Vortex. He was previously part of Illumina Inc, most recently as head of Population Genomics from 2019 to 2021.
"We are pleased to have completed the acquisition of our stake in Vortex, and delighted to welcome Paul to the Vortex team. We are excited by the growth potential of the company in this rapidly growing and maturing market and see Paul as an integral part of achieving our ambitious goals," says NetScientific CEO Ilian Iliev.
Current stock price: 65.20 pence
12-month change: down 42%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Netscientific (NSCI)