Member Info for B2HS2L

Fact - There is not an infinite supply for any of the assays that have been introduced by NCYT in the last year.

If there is a problem receiving payment of the correct amount for whatever reason, and GM wants to
maintain his margin, he can sell his assays to those willing to pay his price.

++++

Paris, France and Camberley, UK - 29 September 2020 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT),
an international specialist in clinical diagnostics,
announces it has signed a new supply contract with the UK Department of Health and Social Care (DHSC)
for its q16 and q32 Rapid-PCR instrument platforms,
exsig® COVID-19 Direct kits and genesig® SARS-CoV-2 Winterplex kits. *** (NOTE NOT PROmate)***....

.....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.
Novacyt has the capacity to meet the demand of both phases of this new contract,
as well as to continue to build its sales across international markets.

Trading Update

Paris, France and Camberley, UK - 9 April 2021 - Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT),
an international specialist in clinical diagnostics,
announces an update on its supply contract with the UK Department of Health and Social Care (DHSC)
and provides an unaudited trading update for the three months ended 31 March 2021.

DHSC contract

On 29 September 2020, Novacyt announced a second supply contract with the DHSC for
exsig® COVID-19 Direct kits and other products.
In the full year trading update announced on 29 January 2021, Novacyt explained it was in
active discussions with the DHSC regarding an extension of the supply contract.
Unfortunately, an extension has not been agreed, although the COMPANY SUPPLIED PROmate™ in Q1 2021
in accordance with DHSC demand....

Q1 trading update and 2021 outlook
Novacyt delivered revenue for Q1 2021 of €83.0 million (£72.6 million).
Approximately 50% of Q1 revenue was driven by sales to the DHSC, predominately PROmate™.

++++
Nearly £36.3 million of PROmate supplied in Q1 2021, but not specifically in 29.09.2020 supply contract.
Surely supply price was agreed before GM supplied, but now DHSC want to reduce supply or reduce price or reduce minimum supply - (ie vary the agreement), - which has stalled progress on further contract?

a_g -

Does this imply that the problem is with a 'minimum supply' clause ?

Something like
DHSC: We have a years supply of Promate already thank you.
NCYT: We have a minimum supply clause in our agreement, - we will supply at stated rates.

GM won't supply if he has sufficient reason to believe he will not be paid promptly.

Hi a_g

Part of a 'Poidster' post on 22.03.2021 mentioned
"NHS sites continue to go live for Covid testing. The situation now is that the positivity rate has plummeted, that said the level of testing continues at the same rate mostly.
Labs are now looking into the novacyt catalogue to see what else they can use the Q machines for, so from this I would surmise a revenue stream will continue post pandemic (if we ever get out of this.)"

I don't want to hold him to anything he said because we are now in a different circumstance, and he may not repeat any of the above today.

My take on the above is that >300 Q instruments had been supplied between Jan and March, to assist NHS / DHSC with the testing task and to get the training of staff started / continued.

Now there is a dispute, and Novacyt have supplied instruments beyond the agreed amount for which there is no official contract, and now don't know when to expect payment.

Feel free to hammer the above, it is conjecture, but hammer it into something else that might fit today circumstances.

A 12:30 RNS post is the time I would choose if I wanted to ensure American readers attention.
But why would I do that ?

What offers can others provide?

mapper99 -
And how many false negatives do these figures imply?

Why would GM walk away?

He's heavily invested, as is the CFO.

Let's not make hasty assumptions, Lets not assume something needs fixing if it isn't confirmed broken.

Yes I read what we all read in the RNS, - but time will tell what really is broken.

Hi Shaun:

Just got in and absorbing the news.
Jobs.
Primerdesign webpage still advertising vacancies:

https://novacyt.com/careers/

CK Science, Primerdesign uses a lot.

No vacancies in Southampton / Camberley that I can find.

Anyone else with a vacancies update?

Courtesy Star bright on AVCT, Apologies if posted already:

08.04.2021
https://www.gov.uk/government/consultations/private-coronavirus-covid-19-testing-validation/private-covid-19-testing-validation

Executive summary
A key part of the government’s approach to managing COVID-19 in the long term is to facilitate a thriving private sector market for COVID-19 detection tests to supplement and support testing led by NHS Test and Trace.

The government wants to encourage the private sector to bring a number of testing products and services to market to meet the differing needs of businesses and individuals. The government is keen to encourage innovation and market growth whilst ensuring tests meet minimum performance standards.

To this end the UK government proposes establishing a requirement that all COVID-19 tests placed on the UK market undergo a mandatory validation process. Tests that fail this process would be barred from sale. Retailers, distributors and manufacturers of tests that attempt to sell un-validated tests would face sanction. This will apply equally to those companies based in the UK and overseas who are importing into the UK.

+++
The tests currently in scope for validation cover the mature existing technology, namely antigen detection and molecular detection technologies. The most well-known examples include:

rapid lateral flow tests (LFTs)
polymerase chain reaction (PCR) tests

Hi Poirot - ref your post @ 20:13 last night:

"Avacta will be classed as a key company with pandemic preparedness in mind, the Government will be keen to see them remain British."

+++

These are British Govnt Policy announcements designed to poor cold water on M&A activity.

21.06.2020 - New protections for UK businesses key to national security and fight against coronavirus
https://www.gov.uk/government/news/new-protections-for-uk-businesses-key-to-national-security-and-fight-against-coronavirus

21.07.2020 - New protections for UK businesses key to national security and fight against coronavirus
https://www.gov.uk/government/publications/enterprise-act-2002-guidance-on-changes-to-the-turnover-and-share-of-supply-tests-for-mergers-orders-2020

01.04.2021 -

https://www.theglobeandmail.com/canada/article-covid-19-variant-spreading-rapidly-in-bc/

"Emerging research has shown the P.1 variant to be up to 2.5 times more transmissible than the common SARS-CoV-2 strain. A separate study found that out of 100 people to contract COVID-19, 25 to 60 could become infected again with the variant.

The initial P.1 cluster in B.C. was detected with the new rapid-testing strategy, which scans the genomic sequence of the virus for a mutation common to all current variants of concern but lacking in the standard SARS-CoV-2. Samples with this mutation are further analyzed to determine the specific variant.

The current practice of sequencing the whole genome can take several days, and sometimes up to a week, while the new method produces results the same day.

Dr. Romney, who developed the testing strategy with his team at St. Paul’s, wants the province to implement it widely as a complement to whole-genome sequencing, emphasizing that the early and rapid detection of variants of concern is of utmost importance."
+++

Bad news about the spread of P1 variant - good news about use of genomic sequencing.

Provided to give an overview of the basics of our PCR test.
Article dated 10.02.2020, the sp ended that week an 99p

https://www.rapidmicrobiology.com/news/primerdesign-the-first-european-team-to-deliver-to-the-world-a-2019-ncov-diagnostic-kit

VanV do you have a twitter account or something else you can be contacted on?

Rather dated now, but found evidence of road transportation / customs clearance services to Primerdesign from
company called Europa (Road).

Europa Road operates the UK's largest European groupage hub situated in Dartford.
Network of 13 UK branches link with Dartford, with freight connections daily to 30 continental hubs.

01.05.2020 Europa supports the manufacture of COVID-19 tests
https://www.europa-worldwide.com/europa-supports-the-manufacture-of-covid-19-tests/

01.07.2020 Southgate has Home Testing Kits Wrapped Up (Last paragraph)
https://www.europa-worldwide.com/southgate-has-home-testing-kits-wrapped-up/

Yes indeed, -
The link opens on the STATUS tab.
Click DOCUMENTS tab.
Click the 'Offc Action Outgoing' option, and view the determination - what's wrong with the application.

I's very detailed about what they find unacceptable, and even suggested text in certain places that
might suite to fix the problem.

But the time from October to March is lost to us for at least three trademarks, and will impact any market launch.
Only option would be to launch without a trademark, - not sure how wise that would be.
Maybe that's part of the reason why the new guy from T-F has been recruited. - Is it Nick?

https://tsdr.uspto.gov/#caseNumber=90249582&caseSearchType=US_APPLICATION&caseType=SERIAL_NO&searchType=statusSearch

Trademark Applications
90249573 EXSIG,
90249582 EXSIG MAG, &
90249594 GENESIG
have been returned for stated issues by USPTO, - much time wasted as applications in October last year.

90580491 VERSALAB
90580510 PROMATE are both still awaiting ruling.

The biggest problem is the waste of time.
This Trademark was registered on Oct. 12, 2020.

I thought the Europeans were slow, but this takes the biscuit.

I've spotted two other Primerdesign applications on twitter, so I'll check these to see if there is any outcome yet for these.

Hi Shaun,

This might change your outlook today:

22.03.2021

https://tsdr.uspto.gov/documentviewer?caseId=sn90249594&docId=OOA20210322113231#docIndex=1&page=1

It's not often you get such specific detail..

Anyone noticed that the 'quiet day' on this board coincides with ShaunP's day off?

Bluelight @ 12:08 -
'until they give us some numbers and some forward guidance we are just going to tread water.'

But for me that's the point.

1 Massive headcount increase confirming large contract, but no news.
2 Trading Updates containing little new info, and sp is the football of manipulation.
3 GM in submarine mode as he announces top management positions, and pilots the vessel to Mid-Cap status, presumably still looking for a few more management yet.
4 French and British Govnt Legislation in place, tending to poor cold water on any prospective purchase of any company valued by these governments. Double the *rse ache through two sets of legislation.

In order to reach Mid-Cap status, large pharma or competitors should not be advised of NCYT intentions or plans, so GM provides nothing; - ensuring we shareholders howl.

As an NCYT shareholder, - poor news availability comes with the territory.
Occasional surprises like cash sum accrued, supplier purchases, and new products to market in record time via
Chartwell also feature.
So you get some news, but nothing financial and useful to a predator.

Meanwhile shareholders accrue (into another ISA at prices they should not be able to buy at), when the big
reveal will trigger maximum buying pressure with only 70 Million shares in issue, and many shares in very sticky hands.

Happy new Financial Year, - get some in.

17.09.2020 - Half year 2020 results:

• New strategy implemented to continue growth trajectory and consolidate performance through broadening focus on respiratory and transplant clinical diagnostics.
++++

Seven months on and I am thinking that GM will want to make a start on 'transplant clinical diagnosis'.
GM might find any company currently developing / producing products that reduce transplant risk / improve outcome attractive.
I think he will prefer a company with strong R&D and profitable products, where he can leverage his good public health relations and reputation to maximum effect.
Expecting a big jump in transplants (in private as well as public health scenarios) when hospital capacity increases due to fewer Covid-19 patients; - any time soon then, to reduce an urgent backlog.
+++

Not aware of a reason for Transplant tech. to be less attractive now than it was in September, other than focus is currently on bioinformatics.
We don't know how much GM is spending on making the Bioinformatics team and our new assays such a core part of Novacyt, but it will certainly be upping the anti should any prospective purchaser surface.

Since September, Anthony Dyer has been made full time Chief Corporate Development Officer, so it will soon be time to advise us of his findings via a bid, before the end of GM's H1 acquisition timescale.