Member Info for B2HS2L

Are you developing innovative medical technologies in the UK and worldwide?

🤝 In partnership with NICE - National Institute for Health and Care Excellence, Health Technology Wales and Scottish Health Technology Group, we are launching a pilot of the Innovative Devices Access Pathway (IDAP).

🚀 The IDAP is set for launch later this year to support innovators to achieve regulatory approval, NICE assessment, and patient access in the NHS at the earliest opportunity while maintaining standards of safety, quality and effectiveness.

++++

Gets better when you find that this was posted on LinkedIn by

Emma Barringer - Head of QARA & Clinical Affairs at Novacyt Group.

https://www.linkedin.com/feed/update/urn:li:activity:7067980772955041792/

++++

26.05.2023 - https://www.gov.uk/government/news/new-regulatory-pathway-set-to-support-safe-patient-access-to-innovative-medical-technologies

"Plans are advancing for a new regulatory pathway that facilitates the development of innovative technologies, by providing innovators and manufacturers with a multi-partner support service including targeted scientific advice that brings new products to patients sooner.

Set for launch later in 2023, the IDAP will be run by the MHRA, NICE, and other partners, including the devolved administrations.

The ambition of this new programme is to bring innovative technologies and solutions to the forefront of the National Health Service (NHS), through a new, integrated support service for developers that will include enhanced opportunities for engagement.

The aim is to help take uncertainty out of the route to access, bringing innovative technologies to patients that can transform health outcomes..." etc.

+++

Hopefully this will lead to minimisation of MHRA approval delays bringing IVD products to the UK market.

You have to identify all the ducks before attemting to line them up..

Https://www.linkedin.com/in/davidfranks123/

It appears David Franks (HR Manager) list of functions within his original job spec has increased.

"About

Extensive experience at board, operating committee and project portfolio level where strategy, transformation, change planning, succession, governance, risk management, business case and investment evaluation are the focus. A strong communicator, skilled in complex stakeholder engagement at an individual, national and international level. Adaptable and collaborative, with experience working in different operating models and cultures. Logical, thorough and able to make informed decisions based on data, business insight and sound judgment. Proven track record in navigating the strategic, operational and when required, the tactical issues, to achieve the desired outcomes.

I offer a unique blend of multi-sector, corporate and consulting experience, private and public sector insight, in an SME and larger scale context. This experience has shaped the way I work as a business partner: solving problems, realising opportunities or enabling others to do so through effective leadership, coaching or mentoring. "

And last but not least!?

"I am open to conversations about senior leadership, advisory, and non-executive opportunities."

(part time presumably, - see below).

++++

"Experience

Chief HR Officer Novacyt · Full-time

Apr 2021 - Present · 2 yrs 3 mosApr 2021 - Present · 2 yrs 3 mos

Global clinical diagnostics company focused on infectious diseases. Member of the Executive Leadership Team (ELT), reporting to the CEO, working on business strategy and development as well as bringing a specific lens on people. Sounding board and a trusted counsel to the CEO, CFO, ELT and other key stakeholders including Board members.

Key accountabilities:

• Working with the CEO and executive, shaping the business structure, size, and operating model to support growth and optimise efficiency of the business.

• Lead cultural change process together with the CEO and executive team.

• Create and deliver a compelling people strategy to enable Novacyt to achieve the strategic vision, through the development of an effective and respected HR team and operating model that is business-focused, and responsive.

• Embed forward-looking technology solutions to improve HR and organization efficiency.

Skills: Leading transformational change · Human Resources (HR) · LeadershipSkills"

+++

Seems a little more forward looking rather than wholesale sackings.

Only the board are visible on the website.

The Executive Leadership Team were removed at the beginning of the year:

https://novacyt.com

About

Board & Management

The Dalai Lama was asked what surprised him most about investing in humanity. he answered :

'Man sacrifices himself to earn money.

Then he sacrifices money in order to recuperate his health.

He is so anxious about the future, he does not enjoy the present.

The result being he does not live in the present or the future.

He lives as though he will never die, and dies having never really lived'.

If the Dalai Lama was a Novacyt investor he might say :

'Man sacrifices himself to earn money for investment in Novacyt.

Then he sacrifices further investment in order to recuperate his health.

He is so anxious about Novacyt's future, he believes the share price can't possibly decrease.

The result being he does not live in the present or the future.

He lives as though he will never die, and dies having never broken even.

++++

One for discussion with management at the AGM, - should it ever become quorate.

I thought there was a possibility that Biosynex (being in acquisitive mode last year) wanted to buy sufficient NCYT shares in order to get board responses to some questions.

- What can you share about your plans, how many new products, how do you intend to move into a post-pandemic market,

any chance of a JV, anything they could glean about the dispute etc etc.

Recall DA was CEO at that time.

Left with the impression that the company is being run so secretively (avoidance of RNS's), yet with so much cash in the bank, the response was that their investment was unwelcome, (II investment was and is also unwelcome),

so Biosynex learned insufficient to maintain their interest and now own less than 3% of the company.

Just My 2c.

Thanks for the Millner research.

A 3 year old Eluceda video, created at the very beginning of the pandemic by the brains behind Eluceda,

can be found here.

https://www.linkedin.com/posts/ian-eastwood-91574b8_coronavirus-please-share-this-video-activity-6645271249184444416-Iunp?utm_source=share&utm_medium=member_desktop

Discusses identification of viruses within 20 minutes using swabs and electrodes.

I hope they have moved on to identifying multiple organisms / pathogens in one test.

Anyone engaging with PI100 to any depth needs an appointment at the funny farm..

1 It appears no argument is winable

2 If you think you have fashioned a complete response, the subject changes.

3 Throughout 1 & 2 he / she is getting everyone to talk about a PI100 post, - and that's the name of the game.

All I am seeing is green boxes.

I don't have to waste my time thinking about the issues they might contain.

I urge you to filter, as the fool is wasting your time as well as his.

Ignore and the posts will literaly 'dry up' when nobody's taking the bait.

I take your point about ambiguity Kaeren.

We first heard of a Biosensor in the Full Year 2021 results - 28.04.2022.

"...and where it is investing in the development of an exciting point-of-care biosensor technology.

The Company continues to look for potentially disruptive technology where it can support and accelerate development to bring technologies to market".

For me it is unlikely that a new Biosensor design and development / test cycle could be described by JM as

'not the biggest project'.

I suspect that if JM were to make clear the cost and manhours so far of the embrio Biosensor, plus the cost of future development and test, then we would see how much effort was being put into the project by both parties, and know it was not a small project for Novacyt.

It's not only the sensor, but the effort going into what it will process and the accuracy achieved that is also relevant.

WBAFC FWIW my view is:

The board are yes men for whatever JW, - the chairman - wants to do.

If the CEO 's face no longer fits, or it is expedient to relieve him of his duties in the chairmans point of view, I don't see others on the board standing in his way.

The Chairmans' financial acumen is not in doubt, but his mode of operation is secretive.

ie from the 2022 FY results - '...And we also called out our work with Eluceda, which is not the biggest project.'

I can't find a better example of 'secretive', but we don't know more on the biggest project because it suits the chairman.

I'm surprised the words were even uttered by McCarthy.

JW has the situation he wants for now because he has a money man in charge of finances.

I'm sure the acting CEO who is also the CFO, is ensuring spending is kept to a minimum on orders from the chairman.

I expect this to be necessary until the dispute is settled.

NCYT will need more R&D investment this year than last, because of the 6 - 9 month development / test timescale of the new Biosensor.

The board have obviously decided that the biosensor is to be built, as they see it as profitable.

How profitable remains to be seen.

We are good at generating original products but don't subsequently capitalise, as our sales teams are small outside of UK.

I don't see the chairman as interested in a merger, as he is a control freak.

When he needs a proper CEO, with the required expertise, JW will find one, but I'm prepared for another 'yes' man.

It would be beneficial to have a replacement for Ed Snape who retired on 31.12.2022.

I think he will be replaced whenever JW thinks he needs to be replaced.

"they couldn't even be bothered to have the AGM face to face with shareholders."

It is a very easy thing to choose (and hide behind) a virtual meeting for this company, with so many shareholders both in UK and France.

WBAFC, - If the BoD have anything to do with it, there aren't going to be many II's attracted to Novacyt.

https://www.walbrookpr.com/content/news-archive/120423c

News Archive

Walbrook PR – Novacyt Group

12 April 2023

"Walbrook is managing the company's ongoing communications with the financial media, research analysts and non-institutional investors, including new and existing private investors."

- Specifically excluding II's, and including 'research analysts'.

Advised to this board by Larry on 14 Apr 2023 17:06

FYI concerning Chat GPT information sources :

Ref - WHICH

https://www.which.co.uk/news/article/what-is-chatgpt-and-is-it-safe-to-use-aF0Ba4j5xAmr?utm_medium=Email&utm_source=ExactTarget&utm_campaign=4246204-C_WS_EM_120523&mi_u=132467323&mi_ecmp=C_WS_EM_120523

"Where does ChatGPT get its information?

ChatGPT uses a collection of Large Language Models (LLMs) which are numbered according to how advanced they are - the free web version is currently using GPT-3.5. These are based on all sorts of sources including the web, books, social media and more. The resulting language dataset comprises hundreds of billions of words.

The free version of ChatGPT is based on data collection that finished in early 2022, so it does not 'know' anything about the world after that time. There’s also a premium version called ChatGPT Plus (which costs $20 a month) that’s furnished with more up-to-date information from GPT-4.

A ChatGPT-like tool is also available to people who use Microsoft’s Bing search engine. The responses to your queries are based both on the pre-learned database of GPT-4, but combined with more up-to-the-minute information about the world right now, and includes clickable citations. Google has a similar chat-based search tool called Bard but it’s only available to those with an invite."

From 2022 Full Year results presentation recently:

"...and we continued to invest in R&D. We saw a 9% year-on-year increase in expenditure taking it to over £5 million. And that's important because product development and innovation are critical to the continued success of our business."

Over £5 million + 9% for 2023 = over £5.45 Million.

I'm expecting at least that for R & D, and possibly more now that we know :

"...we worked with Eluceda last year to do a proof of concept for biosensor product. This is obviously a non-PCR diagnostic solution. And I think it's important for us to keep a fairly open mind on alternative systems. And we are now moving forward with that relationship and targeting a couple of products, one in a non-human health, which we hope we can develop within the next six to nine months and have it in the market in 2024."

Perhaps six to nine months product development / test minimum.

New product development (with a partner) is not a cheap option, but it seems the board have convinced themselves they can sell this new instrument and make a profit.

£5.5 Million R & D minimum for me in 2023, but all payments under previous LTIP are now done, so why not? 👌

Then you'll be possed 🤢🤢🤢 !

Too many in your shoes for LSE to do nothing.

Suggest signing off, then back on guys.

I'm not experiencing your problem, but have done the above.

Test New Message

Thank you Larry.

From Page 1 & 2 of the

IN VITRO DIAGNOSTIC TEST PROCUREMENT DURING THE COVID-19 PANDEMIC

Lessons Learnt and Recommendations

Dr. Luke R.A. Butler

Associate Professor in Law

Head of the UK Public Procurement Unit, Public Procurement Research Group

Director of the Executive Programme in Public Procurement Law & Policy

University of Nottingham

© L R.A. Butler, University of Nottingham, 2022.

+++++

The copyright statement appears to show that Dr Butler completed this report by the end of last year.

It would have been a courtesy to Novacyt to advise that Primerdesign featured in this

BIVDA commissioned independent white paper.

The White Paper identifies a number of issues, lessons learnt and recommendations.

I assume Novacyt is now a Full member of BIVDA, (confirmed by email in April by Mandy),

because of this report, it's recommendations and possible future policy changes.

I don't know why Novacyt would want to remain out of BIVDA, with the DHSC dispute resolution still pending,

and mention of this white paper possibly forming part of both complaint and defence cases.

If you look at his linkedin page, he has reommendations from David Ward only at Novacyt.

Tom Majors' video must have something worthwhile (like a Versalab trailer if nothing else).
But I'm hoping for more than mobile labs as the subject matter.
Some sort of partnership would be nice, but no evidence one will be annaounced.

I would be very happy with that update, as he would be confirming we are proceeding on schedule.

Pebble101 -
If JM were to quote "£100 million in 4 years".
I would be very happy with that update, as he we would be confirming we are on target.

I agree with you, we would expect to see higher projections for 2023.
However IF new market disruptive products are required to get us to '£100 million in 5 years',
then they may not necessarily arrive next year.
I will be watching next years forecast to know whether we should expect market disruptive products next year.