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January Portfolio & Investment News
After a dynamic start to 2024, we are excited to share the January highlights from the EMV Capital and NetScientific PLC group deep tech portfolio:
▶ Glycotest, Inc., the US based liver diagnostics company, has closed a $1m follow-on investment from Fosun 复星 to support the development and validation of its assays ahead of commercial launch.
▶ Wanda Health, the intelligent platform for Remote Patient Monitoring and Virtual Care, has achieved ISO 13485:2016 certification for its Medical Device Quality Management System.
▶ Q-Bot Ltd, the developer of robots for use in the construction and retrofit industry, has been featured in the UK Green Building Council (UKGBC) Trends in Sustainable Solutions in the Built Environment Report 2023.
▶ DeepTech Recycling, the plastic recycling technology business, is progressing its commercial operations with new strategic hires and a transition into new facilities following its £1m first close in December.
▶ Ventive Limited, the heat pump and passive air ventilation specialist, is scaling up its team with two senior hires following a successful first closing of its investment programme in 2023.
▶ ProAxsis, the respiratory diagnostics company, has strengthened its Board with the appointment of Steve Myint, an internationally experienced clinician with board level experience in biotech and pharmaceuticals, as a Non-Executive Director. This follows the appointment of Alan Markey as a Chairman in 2023.
▶ PointGrab, a smart sensing solution for commercial real estate technology industries, has recently welcomed Amir EINAV, an experienced business leader with a strong GTM background, as its CEO, and David Gelber as its Chairman.
▶ Martlet Capital has participated in £3.5m funding round for OctaiPipe, the end-to-end Edge AI platform, and £5.5m funding round for Xampla, a cleantech company advancing plant-based, biodegradable material that aims to replace plastic.
▶ SageTech Medical attended the Association of Anaesthetists Winter Scientific Meeting, showcasing its solutions at the Dräger stand.
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So our holding in PDSB has gone up by £2M since it's low a few weeks back and we have had confirmation that our £10M Glycotest investment is still going strong.
The proceeds of the Investment will, inter alia, support Glycotest in the development and validation of its assays ahead of commercial launch. Such validation is possible after the completion in 2023 of subject enrolment and sample collection in Glycotest's clinical validation study, providing a valuable biobank which the company believes now represents one of the world's largest collections of liver cancer blood samples. Glycotest is in advanced negotiations with a number of prospective collaboration partners, further details of which shall be reported in due course.
In response our share price has gone up by 1p.
You couldn't make it up!
NSCI should be red hot.
Glycotest valuation pretty much confirmed by todays funding news and PDSB signs up a CMO who in his last job signed a $5B deal with Keytruda.
He obviously thinks his 200k share at $4.40 are going to be worth a lot more some time soon!
Buy or top up before the herd arrives because this type of mis price just won't last.
Update to my update.
So far I have these values from the latest results and recent RNS.
Vortex. £3M
SageTech. £1M
QBot. £4M+
PDSB. £6.5M (@ $6.00)
EpiBone. £1M
DNAME. £1M
Cytrovale £1M. Just raised $84M so our 1% has to be £1M+
Ventive. £1M New.
Deeptech. £1M+ Recent fundraise of £1M+
EMV. £5M (Premiums being paid everywhere for fund /asset managers)£100K/Deeptech.
Others. £2M
Cash. £1M
Total £27.5M + £14.5M (below) = £42M!!!!! or approx £2.00 a share.
Todays MCAP £13.5M @ 60p
The ones above have real world values and are worth more than our Market Cap.
Glycotest is valued at another £11M in the books. Sale/fund raise before end of year.
Proaxis is valued at another £3.5M + in the books. Sale/fund raise before end of year.
All the investments have increased in value over the last year.
PDSB is about to embark on 2 PIII trials. Watch the B. Riley securities 2024 presentation. It beats Keytruda hands down. SP is a joke for the potential it has.
Interest will return to NSCI and when it runs it runs!
From another feed.
In the B Riley interview Frank NEVER mentioned an offering just mentioned 2 types of funding. A partnership and a commercial partnership. Also did anyone notice how much the B Riley interviewer started smiling when Frank started talking about how big the TAM was (100 billion) and that no one at this point has any dominance yet and that WE have the ability to become the dominant player. This is all setting up to become a monster company over the next 3-5 years. Stay strong longs and imo you’ll be RICHLY rewarded.
Not many shares around where there are near term multiple catalysts that could double/triple the share price in one go.
If they don't come in ,well we stay at 50/60p and trundle on with the rest of the portfolio that is growing pretty well.
Happy to position myself for a £200K gain or a £20k bath!
Mkango put out a tweet, alongside yesterdays news saying the following,
'Cotec to fund 100% of costs for a 50% interest with expected funding of £30M - £50M'
Can anyone explain why this wasn't in the RNS!
Basically the USA operations are worth our market cap alone and then some, without any need of direct funding from MKA.
Pretty sure the price would have gone up if they had got their comms in order.
Looks like another valuation uplift coming tomorrow.
Cytovale just raised $84M for it's sepsis test.
On the books we have 1% valued at £400K, giving a company value of £40M!
Worth a damn sight more than £40M after that mega raise.
PDSB conference call today was unreal. No wonder it's up 20% on heavy volume.
8 ongoing P11 trials that cost us nothing.
About to start a couple of P111 and on the cusp of major partnership or full sale.
A billion $ company in the making!
Old but updated post below.
So another £1M+, Q BOT, to add to the pot and no one notices!
Plus another £1M from Ventive.
£23.5M vs £13M M Cap
I do think that PDSB will hit the $1B valuation, $25+, if the readouts continue to impress.
It is not just one drug but the whole platform that will come through.
That will add £20M+ to our valuation and take us over £2.00.
Add in the rest of the investments and 60p is just crazy. If Glycotest comes in you are looking at £3, £4 or £5 a share.
So far I have from the latest results and recent RNS.
Vortex £3M
SageTech £1M
QBot. £3M+. Now £4M+
PDSB. £6.5M (@ $6.00)
DNAME. £1M
Cytrovale £1M
Ventive £1M New.
EMV. £5M (Premiums being paid everywhere for fund /asset managers)
Cash. £1M
Total £21.5M vs MCap of £14M .Now £22.5M ...Now £23.5M...
The ones above have real world values and are worth more than our Market Cap.
Glycotest is valued at another £11M in the books. Sale/fund raise before end of year.
Proaxis is valued at another £3M + in the books. Sale/fund raise before end of year.
Plus another 25 investments.
Insane value
The US govt has been financing/loans to Malawi to the tune of hundreds of millions of $ for a number of years.
There is no question in my mind that the US is not going to have an investment in the mine. Be it equity or grant/loan.
The elephant in the room is how does MKA gear up to build and then operate the mine or are we allowed to sell the license on and retain say 10%.
Ventive was listed at fair value of £100K Dec 22.
We now have real world value of £900k (lets call it £1M) for a slightly reduced stake.
As of today, almost a tenth of our M Cap.
Fair value now £36.5M vs M Cap of £12M.
Assume Pan Gordon might push something out.
A medtech stock with potential to treble in value.
The investment company’s portfolio is worth 151 per cent more than its market cap and there are hidden assets, too.
September 28, 2023
By Simon Thompson
*First-half pre-tax loss of £1.6mn
*Fair valuation of portfolio down from £41.8mn to £35.5mn (151p)
*Post-period-end disposals improve cash position
Aim-traded investment company Netscientific's (NSCI:60p) headline losses mask an improving trading performance.
More than three-quarters of the flat first-half operating loss of £1.6mn was due to the consolidated losses of two subsidiary companies: Glycotest, a Philadelphia-based liver disease diagnostics company that is commercialising new and unique blood tests for life-threatening liver cancers and fibrosis-cirrhosis; and ProAxsis, a commercial medical technology company with a focus on respiratory diagnostics. Importantly, both companies are being funded by third-party sources as they move towards the commercialisation stage and do not require funding from Netscientific. Excluding Glycotest and ProAxsis, the group operating loss more than halved to £0.3mn.
Moreover, current borrowings of £1.5mn reflect the debt of the two subsidiaries. At a parent level, Netscientific had net cash of £0.3mn on 26 September 2023 and it holds 1.33mn shares worth £5.5mn (23.5p) in PDS Biotechnology Corporation (US: PDSB – $5.10), a $157mn market capitalisation clinical-stage immunotherapy company developing cancer immunotherapies and infectious disease vaccines based on its proprietary Versamune T-cell activating technology platform. The fall in PDS’s share price proved a £9.4mn drag on the portfolio valuation, but this was partly offset by net gains of £3.1mn from three other holdings: Vortex Biotech, Q-Bot and DName-IT.
The group’s 25 per cent stake in Vortex Biotech quadrupled in value to £2.8mn after the company raised £3.2mn in an enterprise investment scheme (EIS) investment round in June 2023. It was led by EMV Capital, the group’s corporate finance boutique. Vortex’s core technology allows for the capture and isolation of high-quality circulating tumour cells from blood samples.
University of Leuven spin-out DName-IT has developed a platform to avoid sample authentication errors and to correct for sample contamination in genetic sequencing laboratory tests. The company operates at the crossroads of the major, growing markets of liquid biopsy, laboratory services, clinical trials and next-generation sequencing. A recent £0.5mn EIS investment round led by EMV Capital increased the valuation of the group’s 36.9 per cent stake from £0.1mn to £1mn.
Netscientifc also booked a £0.3mn gain on its £4.1mn holding in Q-Bot, a London-based robotics and artificial intelligence company that has developed a patented energy-saving ro
Thats a great link and well worth listening to from 11.30.
Anyone know if we have 'a non binding term sheet in place' to progress to the final signing?
It is quite clear that there is little investor interest in Mkango on it's own by looking at the YouTube video views.
Lotus have got 5k views in 4 days.
MKA have got 220 views in 2 months and 270 view in 1 year. Quite pathetic engagement and probably why we are at 10p.
It is only when we are combined with Cotec that the updates reach 9K+
Not sure what the answer is but they need to do something!!
One of the reasons I invested here was because of
Stewart Nelson (fund manager) going over 5% in Feb 22 buying @ 20/25p
Michael Geoghegan (ex HSBC) going over 4% in Nov 21 buying @ 30p
£100k of director investment a few months back.
I assume they are still invested. I know declaration rules are never followed but just wondered if anyone had some info.