LONDON (Alliance News) - Limitless Earth PLC, which earlier in October invested USD500,000 in a company developing blood tests to help detect cancer, on Friday said its first-half losses narrowed due to a fall in administration expenses.
Losses before and after tax fell to GBP77,734 in the six months to July 31 from GBP175,806 in the corresponding half the prior year.
Limitless Earth, an investing company, invested in the convertible preference stock of Chronix Biomedical Inc, a private molecular diagnostics company based in San Jose, California, US, on October 8. Chronix is developing blood tests that can be used for applications including cancer detection and organ transplantation.
The investing company said it wants to make the "right investment in the right sector at the right time", and that it expects to make further investment in the second half.
"During the second half of the financial year, the board expects to make further investments and it continues to review a number of investment opportunities," Limitless Earth said in a statement.
Shares in Limitless Earth were untraded on Friday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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Limitless Earth (LME)