Member Info for B2HS2L

Pokerchips,
".but the loan terms cant exactly be good or they would have accepted them already ???"

The loan terms won't be good because the lender knows the TRX funding timescale.
Goodness knows they drew attention to it often enough.
That said, I don't think that MidCap has refused to provide access to tranche 2,
as TRX may not have requested access under the terms of the renegotiated loan last November,
and I'm sure TRX knows MidCaps view on access to tranche 2 without formally requesting drawdown.

The recent Covid-19 event has ruined some companies finances, but not so TRX (so far).
For bankers, TRX represents a sound investment in terms of finances not too far from break even, and operations not currently locked down.

We'll soon see which way the cards fall for G&J, but as you say, investment from a larger company who see's TRX as complementary may happen.

"someone somewhere is without doubt wanting to get on board" - Arthrex possibly more than ARMS, but even that is a guess.

Should we be expecting an RNS that explains the reason for this sp explosion?

BBC 1 o'clock news just featured Novacyt test kit full screen during a 'testing' review.
Tick in the box..

Pokerchips

Good post.

"any talk of asset sales would have happened well before now, as would any talk of putting the company up for sale. Those things dont wait until this late stage in what looks like counting the pennies in order to keep the lights on."

My thoughts on this is that if 100% of Gareth Jones time were devoted to finding a new loan in the last few months, he would be distraught that there was no fallback position if he failed.
So there may be agreements on asset sales ready to sign on the dotted line if/when time runs out on finding new finances, he would just be covering all eventualities.
Ditto for a buyout, but my money is on Gareth and Jonathan successfully finding a loan in time.

What I am getting at with the LAMP technology, is that the assay for this test could also be provided by Primerdesign,
now that the link up with AZ and GSK is established.
The two assays do not use common chemicals I believe, but will need to double check this.
News from Optigene should be with us soon of their consultation with PHE and Govnt concerning
use of their Genie HT LAMP instrument to process 300 tests / hr.

I'm not happy with maximising sales of one assay, I want to make money out of two, but to do so LAMP technology interest needs to be ignited. BOOM - as they say in day trading circles.

Think I'll pass on your socks bet Bee, but I catch your drift on the sp rise recently.

Quickdraw - ref my 20:32 post last night.

Now that Primerdesign are to partner with the big guys at the new Cambridge laboratory,
I am hoping we can get the assay for the LAMP equipment as well as the qPCR assay on the agenda there. Not many seem to realise that the success that is evident with the qPCR assay is possibly repeatable
if the LAMP technology is of interest to PHE / Govnt, or any other foreign health authorities.
To supply an Assay, they will be turning to Primerdesign who provided the original assay.

Keep up the good work, lets hope PHE wakes up to the opportunity before others elsewhere do.

Stu,

Any preferences for partnership or buy-ins?

I have for a while now been thinking that ARMS & Arthrex must be heartily sick of the stalemate since November, and Arthrex may try to bid if they see that there is still no improvement post arrival of Jonathan Glenn.

I'm also wondering if there has been an insurance claim concerning loss of business due to cyber attack, but I'm not sure if we are covered for this risk.
I'm not expecting a loan / placing news until after April.

Hi Quickdraw18

Have you heard anything about PHE discussing the Optigene submission of their LAMP tests as part of your research.
Things have gone quiet from PHE / Govnt on this issue, and it may be because PM in hospital, and still trying to sort the detail of the new Cambridge Lab.

From todays 'Collaboration with AstraZeneca, GSK and University of Cambridge' RNS:

Graham Mullis, Chief Executive Officer of Novacyt, added:

"Novacyt is committed to supporting national efforts in the fight against the COVID-19 pandemic. In the UK, we continue to work with the NHS and Public Health England to supply our COVID-19 test to a growing number of hospitals and, through this new collaboration with AstraZeneca, GSK and the University of Cambridge, we are very pleased to further assist the Government to increase testing."

While it's great for the company to be contributing in the above way, that leaves less resources available for the company to contribute to any LAMP (Loop-Mediated Isothermal Amplification) test technology, - particularly the assay.

On 6th April, Michael Andreou, managing director of OptiGene said:
"The company hopes that after furnishing Public Health England with further data, its test equipment could be in use by next week" - Thats Tuesday 14th April soonest.

https://www.wscountytimes.co.uk/news/people/horsham-company-develops-rapid-new-test-coronavirus-2531127

We await news from Optigene of their consultation with PHE and Govnt concerning use of their Genie HT LAMP instrument to process 300 tests / hr.

The Cambridge Lab facility will be used for high throughput screening for COVID-19 testing and to explore the use of alternative chemical reagents for test kits in order to help overcome current supply shortages.
This statement applies to Primerdesigns qPCR assay, but could easily be modified for both qPCR and LAMP assays, with Govnt approval.
Primerdesign is now in pole position to take the conversation concerning LAMP and LAMP assay development further with PHE / Govnt.

If VanV is around, - perhaps the use of this website might assist with making information available to editors / cabinet members:
https://www.openpr.com/news/2002083/corona-virus-treatment-market-to-witness-huge-growth-by-2026-key

There is further work still to be done if we want to dominate the conversation regarding LAMP assay as well as qPCR assay.

In the interests of generating discussion, is there any appetite from investors for the following
possibilities to generate funds for company development (in leiu of a loan or placing):

1 The sale of the Cellright part of the business, (the part where the market for bone products
is stronger than the skin tissue cell part).
The IP for this part of the business is not covered by patents, but by 'know how'.
TRX has added value to the $30 million purchase of Cellright by agreeing a distribution
agreement with Arthrex, who are taking all the bone products the company can provide.

2* The sale of the tissue cell part of the business, (for which TRX has had to re-instate
a former agreement with CTS in order to source sufficient tissue to service demand)
These products are covered by patents.
Although product demand is strong, it is not as strong as Cellright product demand.

3 Sale of interest in German tissue bank will not generate sufficient funds to make a difference,
and a profitable and good potential opportunity will be terminated.

4 Licensing of TRX patents to interested parties, in return for up front and residual payments
with which to augment the TRX bottom line, thus keeping the wolf from the door.

5 Share your choice on the bb.

A JV or a buyout has been previously discussed, and has not been discussed here.

*In the above, it is assumed that CTS have not reduced the amount of tissue provided to TRX
after the start of the Covid-19 restrictions in USA.

From RNS 30.03.2020

Graham Mullis, Chief Executive Officer of Novacyt, commented:

"We continue to report unprecedented demand for our COVID-19 test as the rate of growth in orders increases each week and continues to exceed our expectations. As a result, and despite our best efforts to ensure we are fully prepared to meet demand, the rate of sales growth is beginning to be restricted by our ability to scale-up manufacturing as quickly as we would like. This, therefore, remains an immediate priority for the Company and it is our objective to make as many tests available to as many clinicians around the world as quickly as possible. We are very pleased with how our manufacturing partners, BioType and Yourgene, are supporting Novacyt during this time and we continue to evaluate additional capacity enhancing options to address the global demand for our COVID-19 test. Again, I would like to thank all of our employees and suppliers for their ongoing hard work and support during this pandemic."

My point is: "the rate of sales growth is beginning to be restricted by our ability to
scale-up manufacturing as quickly as we would like."

We are losing sales. -

This why I said earlier tonight:

"Priority 1 news of UK test kit manufacturing partner
Priority 2 Purchase of further materials with which to produce test kits

the number 1 and 2 priority news items in any future RNS."

But I also mentioned:

"And I don't think we've too long to wait."

The below equipment has been recognised by Primerdesign as being compatible with the companies assay :

Applied Biosystems®7500 Real-Time PCR system

Bio-Rad CFX Connect™Real-Time PCR Detection System

Roche® LightCycler 480 II

Bruker-Hain Diagnostics' GenoXtract® automated nucleic acid extraction device

Bruker-Hain Diagnostics' FluoroCycler XT PCR instrument (in process of being compatibility tested)

Today the World Health Org has EUL listed the same Primerdesign assay.

Many of the worlds qPCR instrument makers will want to make their equipment compatible with Primerdesigns assay.

At least, if it wasn't a high priority before, - it probably is now.

Graham Mullis should have a lengthening list of applicants for compatibility testing.

This situation makes

1 news of UK test kit manufacturing partner
2 Purchase of further materials with which to produce test kits

the number 1 and 2 priority news items in any future RNS.

And I don't think we've too long to wait.

Good find Quickdraw, - we should be hearing of developments soon for this test from Hanc*ck & Raab.

After the experience that PHE / Govnt has had with the 'have you had it' Antibody tests and testing them, I would expect a certain level of caution before proceeding with LAMP, but it is what is necessary right now if it does what it says on the box.

Stu, try throwing it against the other walls.
If no luck feed the laptop to the Gissy's.

..I've worked with a number of Geordies in the past.

I'm finding that changing the 'posts per page' control eventually provides the latest post.
Don't shoot the messenger if this fails though ;)

Thanks for the correction quickdraw, This press release for the Genie HT instrument is right up to date.
If there have been any representations to PHE / Govnt, I'm not aware of any outcome.
http://www.optigene.co.uk/wp-content/uploads/2020/04/OptiGene-Press-Release.pdf

Quichdraw,

Did some research on instrument capacity.
SAMBA II instrument has the capability to deliver 72 test results per day.
Useful technology, instrument too small for our needs.

Can't imagine Corbin having so many people wishing him well in similar cicumstances.