Member Info for B2HS2L

Kaeren, -
It's conceivable they may have recruited more than eight, as this was from my notes, not from each individual advertised vacancy.

Also, certain individuals may have been temporarily transferred to make more training available.

wrt 90 hospitals, the staff requiring training were possibly on different shifts, which might complicate things further.

JM2c

CS - RNS 29.09.2020 -
"The intended use of the contract is for Novacyt to support the urgent requirement for COVID-19 testing of patients in the NHS. In addition to the provision of products, the Company will also provide training and maintenance services for the q16 and q32 instrument platforms."

Eight persons were recruited in September / October 2020 to perform the training requirements of the contract.

To my knowledge, training has not been an issue contractually.

From notes taken September / October 2020 concerning advertised vacancies -

Eight Field Application Specialists and eight Account manager roles recruited.
Included within one of these two job specifications, was the requirement that they would be training customer staff on use of q16 / q32 instruments.

19.07.2022 - West Australian researchers announce major breakthrough in detecting bacterial infections

https://www.abc.net.au/news/2022-07-20/wa-researchers-announce-bacterial-infection-breakthrough/101250044?utm_campaign=abc_news_web&utm_content=twitter&utm_medium=content_shared&utm_source=abc_news_web

CTDA is not mentioned in this article:
https://www.gov.uk/government/publications/assessment-and-procurement-of-coronavirus-covid-19-tests/protocol-for-evaluation-of-rapid-diagnostic-assays-for-specific-sars-cov-2-antigens-lateral-flow-devices

However it is clear Porton Down are changing the process they use to tests New LFT devices.
Hopefully this identifies more Chinese rubbish more quickly.

Aim
There are an increasingly large number of commercial lateral flow antigen devices available. It is not feasible to conduct large scale evaluations on all of them; current sample resources only allow a limited number of devices for full evaluation. There is therefore a need to shortlist this limited number from many candidates as quickly as possible.

Phase 2A
For those tests that pass phase 2, an assessment using 3 seasonal coronaviruses will be carried out to identify any cross-reactivity.

Phase 3
Only if the Oversight Group agrees that a product has passed phase 2 and 2A will it proceed to phase 3. DHSC will advise the relevant manufacturer accordingly and request them to ship at least 4,000 kits directly to UKHSA Porton Down.

Phase 3 will be carried out against a larger sample set, namely 1,000 true negatives and 200 true positives, which will be sourced by Oxford University Hospitals. The negatives will be fresh samples, transported within 48 hours, the positives will be frozen. This follows recent work at UKHSA Porton Down to support the development of this protocol which found there to be no discernible difference in performance when using frozen samples.

Additionally, samples from people from PCR-confirmed positive cases identified by the Lighthouse Laboratories will be tested both ‘in the field’ and subsequently by UKHSA Porton Down. Wherever possible, at least 2 products will be evaluated side-by-side in phase 3 to ensure most efficient use of time and resources.

Phase 3 findings will be reported to the Oversight Group, with DHSC and ministers using this information and any recommendations to inform potential purchasing decisions.

+++
Now expecting a much longer wait for LFT approvals, which probably just got a lot more expensive.

I can only think he meant the following LFT tests EXMEX. Strange though that they have no given product names, all very strange.

27.06.2022 - Video - PathFlow: Lateral Flow Testing by Novacyt
The PathFlow range of LFTs ensures rapid #diagnostics results within minutes for #infectiousdisease.
With high specificity and sensitivity, we give the confidence of accurate point-of-care management on the frontline.
Includes details of a LFT reader to help doctors advise whether the test line is positive, when the line is faint.
Tests are:
STI
Respiratory
GI (Gastro-Intestinal)
Insect-borne
Transplant
Packaged deals also available with a LFT reader
Twitter:
"Our #PathFlow range of #respiratory and #gastrointestinal #LFT tests provide access that is portable, easy to perform, and can be used by healthcare professionals in all settings, including #carehomes, #oilrigs, or #schools... "
https://www.youtube.com/watch?app=desktop&v=mePkUgVRjz8
++++
Also there was this:

05.07.2022 - Good Morning Mandy,

Last week there was a post on Twitter concerning our new Pathflow range of respiratory and gastrointestinal LFT tests:
"Our #PathFlow range of #respiratory and #gastrointestinal #LFT tests provide access that is portable, easy to perform, and can be used by healthcare professionals in all settings, including #carehomes, #oilrigs, or #schools... "

Could you advise please the date they are being distributed?

Kind Regards

++++

06.07.2022 - Response:

Hello,

They are available to order now.
Kind regards

Mandy Cowling

The following is relevant to this conversation about Biosynex's intentions.
This concerns an announcement about a loan procured by Biosynex, and what amounts to a statement of intent about the uses to which it will be put:

18.11.2021 -
https://www.degaullefleurance.com/en/financement-syndique-de-biosynex-de-gaulle-fleurance-associes-a-conseille-la-caisse-depargne-grand-est-europe-et-les-autres-preteurs/

"syndicated loan facility for a maximum amount of €109 million.

This transaction was arranged by Caisse d’Epargne Grand-Est Europe, advised by De Gaulle Fleurance & Associés.
Through this financing, BIOSYNEX plans to secure the Group’s general needs and pursue its external acquisitions with the ambition of becoming the European leader in the field of rapid POC (“Point Of Care”) diagnostics."

"These acquisitions are intended to build up a portfolio of synergistic and complementary technologies in molecular biology and in point-of-care. In addition, the Group intends to accelerate its international development through the consolidation of its distributors and the creation of new subsidiaries."

++++
We might be an active willing partner in this statement of intent, or be an important milestone acquisition in Biosynex's pursuit of it.

Subsequently Biosynex purchased NCYT stock, which may have got the two sides talking about the future, and whether there were significant 'synergies' that were worth exploring.

Biosynex later sold part of their holding, but nobody AFAIK knows the reason for that.

I believe the sides are talking, and whether they understand each other a lot better is a matter for conjecture.
FWIW From DA's first video:

"09:52 We started out very reliant on the UK, we still do a lot of business in the UK, but the clearest opportunity for us is to leverage our CE marked products across the European economic area, so a huge area for which we already have regulatory coverage."

IMO the worldwide testing industry is very fragmented and awaits much M&A action.

If no deal with Biosynex then another opportunity might be along soon enough."

The nature of competitive advantage:
"Novacyt, through its specialist bioinformatics surveillance expertise, continually tracks the changing pathology of diseases worldwide, and will regularly review the detection profile of assays, ensuring that new versions are developed if necessary."

This is what we should be shouting from the rooftops.
Nobody else does this.
Where is your Marketing team with this please David, we should be regularly phoning / emailing a reminder of this to all customers and new leads.

++++

How many staff are involved in this constant review team? - don't you want to recoup this cost?

Interesting little snippet from within:

"Number of participating shareholders (by voting form, electronic vote, proxy or present): 1,225
shareholders representing 10,007,703 shares."

CS -
"no way on earth we would rise if we lost the case."
It's no secret this share is badly affected by a dispute with it's no1 customer.
If the court found for DHSC completely, (worst case), we would have to pay what the court agrees should be paid.

Financially there would be a clear understanding of what is left in the bank.
Any funds from DHSC would be known
All timescales would be known.
This would have to be the subject of an RNS, and as such I believe sp would subsequently rise, as all doubt concerning the dispute would be removed.
If the court found for NCYT, the sp would rise the faster.

BYP - Any counterclaim is part of process AFAIK. - So it's neither successful nor unsuccessful.

HarChris - "It could also be that a sizeable amount of the cash is tied up because of the DHSC dispute and for now the focus is on improving operations in house before really attacking on the m&a front."

+++
If this guy hasn't optimised in house operations to include future sudden increases in demand, he isn't the guy for the job.

Supply Chain Director at Novacyt Group - ex Chartwell Consulting, and shipbuilding. Arrived October 2020.
https://www.linkedin.com/in/nick-east-4740bb1a/

Hey, WTF does anyone know,
but for me M&A activity must come soon, else the financial consequences of not picking the right purchase at the end of this financial year will be very large indeed, should current sales continue to be poor.

We might
1 Purchase small time, - one or more targets, retaining most of the cash.
This option won't change the present predicament much.

2 Plan that should the dispute be settled in our favour, make a very large purchase or merger, using Cash and funds from DHSC.
With the dispute not expected to end soon (according to CFO), that won't meet the timescale mentioned in the first sentence.

HarChris -
All that being the case, - we are not hearing of that many M&A stories in 2022, which leads me to think larger pharma knows it's targets, but the time is not right to buy, wouldn't you agree?

From AGM Q/A session - Q5 concerning new products -

"we also have developed Winterplex, which goes beyond the pandemic into respiratory testing which is launched and ready for this winter".

Lets hope the new Winterplex offering is good at detecting all flu variants expected in UK this autumn.

AFAIK Winterplex is not approved for US, but we don't want these problems in UK this winter.

https://www.webmd.com/cold-and-flu/news/20220721/australia-twindemic-a-warning-for-the-us?ecd=wnl_cvd_072222&ctr=wnl-cvd-072222_lead_cta&mb=%2FTkqjjNVBqxYywBLvkGm90klslySW0RtIJ5f8LpEPug%3D
Is Australia's COVID, Flu ‘Twindemic’ a warning for the U.S.?

"Among the most vulnerable: seniors, people with other health conditions, and the unvaccinated (who are more likely to become hospitalized or die from the flu and COVID)."

"...many Americans remain hesitant to get the COVID-19 vaccine, with only an estimated 67% of the U.S. population fully vaccinated, according to the CDC."

"One thing health officials have yet to determine: How effective Australia’s flu shot formulations, which typically provide the basis for the U.S. vaccine, have been in fighting the flu there.
We haven’t seen those numbers yet coming out of Australia, but they should be coming sometime soon,” Pekosz says. “It will be important to see how well the vaccine is matched to those flu strains that are circulating.”

Winterplex documentation:
https://www.genesig.com/products/10049-sars-cov-2-winterplex

Hitting the 'Resources' button produces a choice of Winterplex documentation, all issued in September 2021.

With those Ozy results not issued, our Winterplex flu adjustments for this winter are not complete surely.

Flow rate increases -

From RNS 26.04.2022

"Early restrictions to production have been successfully addressed through improvements and modifications to the site facilities, including installation of a secondary separator and progressive upgrades to the gas incineration unit.
Production is currently controlled by the 10 tonnes per day gas incineration boundary, regulated by the Environmental Agency ("EA") Permit, to between 760 to 800 bopd gross (304 to 320 bopd net to Union Jack).
Once the gas monetisation development is complete this production limitation will be eliminated and the production rate is expected to increase significantly."

+++
Gas monetisation can't come fast enough.
Only then should we discuss buyback/divi's

It's not as though we can't afford it.

" The report is currently being finalised and the results will be announced in due course."
This is the last time the company can use statements like this without losing face.

"Since Gaffney Cline commenced their report, oil production at Wressle has increased by circa 45% and, accordingly their report is being updated to reflect these new positive developments and is now using a reference date of 30 June 2022."

We need the company to stop asking more and more from GC.
Stop moving the goalpost and increasing GC's fee Bramhill, let's get it out there, - it's time.

HarChris "this acquisition highlights just how badly novacyt has performed in the first six months of the year."

It is also the case that the Distributors have experienced a really poor period representing Novacyt.
Some of these companies will find other manufacturers to represent if selling similar goods is a lot easier.

https://www.medscape.co.uk/viewarticle/pharma-companies-fined-70-million-overcharging-nhs-2022a1001w5l?uac=446228AG&faf=1&sso=true&impID=4453892&src=WNL_ukmdpls_220723_mscpedit_gen

Kaeren - from 22.06.2022 post -
https://www.justice.gov.uk/courts/procedure-rules/civil/rules/pd_pre-action_conduct
Introduction
1. Pre-action protocols explain the conduct and set out the steps the court would normally expect parties to take before commencing proceedings for particular types of civil claims.

9. Parties should continue to consider the possibility of reaching a settlement at all times, including after proceedings have been started. Part 36 offers may be made before proceedings are issued.

Part 36

https://www.stevens-bolton.com/cms/document/part_36_client_guide__april_2013_new.pdf

Part 36 is a provision in the Civil Procedure Rules (“CPR”) designed to encourage parties to
settle disputes without going to trial.
Under Part 36, both claimants and defendants can inform the other side what they will accept or
offer to resolve a dispute. If a party does not accept an offer made under Part 36 (a “Part 36
offer”), it risks being made liable to pay more in interest and/or costs on a judgment than if no
offer had been made. These costs consequences and the circumstances in which they will apply
are set out in more detail below. This financial risk encourages parties to make Part 36 offers
and to seriously consider Part 36 offers made to them.
Part 36 offers are made without prejudice
As Part 36 offers are made on a ‘without prejudice save as to costs’ basis, the court is not made
aware of a Part 36 offer until after it has reached judgment, but before it has made an order in
relation to the costs of the proceedings.

Timing of Part 36 offers
Part 36 offers can be made at any time up to the time of judgment, and even before court
proceedings are issued. However Part 36 does not apply to claims which have been allocated to
the small claims track (the usual track for claims for less than £10,000).

++++
Expecting Part 36 to be an option in the dispute.