Member Info for biffa

MCap £16M @6p. Can someone remind me how much debt we have? (if any)

Over £25m spent on Songwe alone.

On the cusp with Hypromag.

I wouldn't be surprised to see us on the receiving end of a bid if the SP stays down here.

PDSB is on 30-40 months for OS.

MRK alternative just hit the buffers!

Frank holding all the cards for a full partnership or buyout.

24-Jun-2024 / 19:00 CET/CEST

Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

Disclosure of inside information pursuant to Article 17 of Regulation (EU) No 596/2014

Merck KGaA: Phase III trials of xevinapant in locally advanced head & neck cancer discontinued

Darmstadt, June 24, 2024: Merck KGaA is investigating a treatment of xevinapant plus platinum-based chemotherapy (CRT), compared to placebo plus CRT, in patients with unresected locally advanced head and neck cancer in a phase III clinical trial (TrilynX). The company decided to discontinue this study. The decision follows a pre-planned interim analysis performed by the study’s Independent Data Monitoring Committee, which found that the trial would be unlikely to meet its primary objective of prolonging event-free survival. Given the totality of the data, the company decided to also stop the phase III clinical trial X-Ray Vision (xevinapant plus radiotherapy, compared to placebo plus radiotherapy in patients who underwent resection of locally advanced head and neck cancer).

I can't believe the lack of interest in this share.

2 very positive RNS and zero effect.

It's good news. MMS are short of stock for you to buy but are happy to take them onto their books.

NMS is quite small in NSCI, but they should at least offer that with a buy quote.

How many were you trying for? Perhaps split into 5K batches.

Oak bloke has done a decent write up on the Martlet portfolio (Part 1)

Yet again shows the crazy value gap.

A new article - ‘A below the radar investment company on a bargain rating’ - published by Simon Thompson / IC today.

Just to add to the feel good factor!

NetScientific: Broker initiates coverage with 'buy' recommendation and 137p price target

Published: 14:58 17 Jun 2024 BST

NetScientific PLC -

Panmure Gordon has initiated coverage on NetScientific PLC (AIM:NSCI) with a 'buy' recommendation and a price target of 137 pence, hailing its shift away from traditional venture capital (VC) investment models towards a focus on deep technology and life sciences sectors.

NetScientific, under the leadership of CEO Dr Ilian Iliev since 2020, has evolved to support innovation and growth in these sectors, the broker said.

The company’s strategy includes syndicating third-party investments and offering advisory services to its portfolio companies. These services generate additional revenue, helping offset the costs of managing the platform, Panmure said.

Its assets under management (AUM) have grown substantially, from approximately £12 million in 2020 to over £100 million. This advance is a mix of direct investments and managed third-party holdings, the broker said in its initiation report.

A key aspect of NetScientific's strategy is its focus on areas such as artificial intelligence (AI), robotics, semiconductors, materials science, and life sciences. This approach marks a departure from traditional VC investments in software as a service (SaaS), digital-only models, and fintech, Panmure said.

A notable example of NetScientific’s strategic shift is the recent deal between its subsidiary EMV Capital and Cambridge-based Martlet Capital. This transaction significantly increased AUM and is expected to enhance revenue opportunities and support future fund launches.

As NetScientific continues to execute its strategy, it leverages its exposure to high-barrier-to-entry businesses across various subsectors. This diversification presents numerous opportunities for value creation.

Panmure Gordon’s valuation of NetScientific at £32.8 million, or 137p per share, represents a 98% potential upside from current levels.

In afternoon trading the stock was up 1% at 70.9p.

FYI your 8% share holder, James Kight has just announced (late Friday) a 3% holding in NetScientific. NSCI.

Results were last week and Oak Bloke is a massive fan.

NAV is £40M+ vs MCap of £16M. Which is £2.00+ vs 68p current sp.

Pretty much the same set up as TEK, university spin offs, stakes in 50+ companies plus EMV fund manager that looks after the lot.

Good luck here and there (which I hold)

Https://theoakbloke.substack.com

I can only see a steady climb from here as the penny profit brigade finally fook off and leave us to it.

Decent questions from Colin,Neil,Graham and Simon yesterday (and me).

At last we have an up to date line in the sand valuation of £40M that we can add/subtract to as news comes in.

If they don't get the SP up we might be on the receiving end of a bid ourselves!

Mr Kight, HNW individual has just disclosed over 3%.

Holds 8% of Tekcapital (TEK) His holding worth £2M. TEK invests in spinning out university IP.

Let's hope he sees more value here and continues to add.

One of our Martlet Investments. £29M!

Echion raises £29 million in Series B investment round

June 14, 2024

Series B fundraise of £29 million led by Volta Energy Technologies with CBMM, BGF and Cambridge Enterprise Ventures

The world’s leading developer of niobium-based, fast-charging battery materials, Echion Technologies, has successfully completed its Series B funding round, raising £29 million in investment capital. The round was led by specialist battery and energy storage technology investor Volta Energy Technologies (Volta), with participation from existing investors CBMM, BGF, and Cambridge Enterprise Ventures.

The investment will enable Echion to execute its go-to-market strategy to see its innovative niobium-based XNO® anode material utilised in real world applications, at volume. Echion is Volta’s first investment into a European headquartered company and having Volta as the lead Series B investor highlights Echion as a rising British battery technology business within the crucial global energy storage industry.

Echion’s longstanding partnership with the world’s leading producer of niobium, CBMM, will see the opening of a 2,000 tonne per year XNO® manufacturing facility this year. This provides Echion with the manufacturing capacity to satisfy the large and growing demand for XNO® across its global customer base comprised of major cell manufacturers and original equipment manufacturers (OEMs).

Great results and a pretty good presentation that answered most of the questions.

3 out of 4 on the wish list so not to bad.

Decent involvement from a number of people.

Panmure note on it's way which would be a first.

£35.6M plus £4M since year end so £40M vs £15M.

No reason for this not to steadily move higher as news flow and investor interest increases.

A positive set of results with more to come.

Some excellent news out today.

PDSB continues to show top of the class data. SP is a joke.

Really positive proactive interview out for DeepTech. Direct 21% plus 30% GUA.

Two sites being announced over the next few months where our tech has been licensed to build. Already at the revenue stage.

Let's hope they focus on the important bits tomorrow.

Massive discount to NAV and what they are going to do about it.

Share buy back.

Director/NED buying.

Panmure note.

Portfolio update.

Should do for starters.

Looks pretty good to me and still on for H1 24.

Another country in the bag!

Loads of news coming out from PointGrab so worth keeping an eye on.

New website and sales team doing quite well.

Direct holding 5.4%. CUA 26%.

SageTech Medical secures funding to enhance anaesthetic recycling solution via Innovate UK grant competition win.

Jun 7, 2024

Sagetech Medical, a pioneer in sustainability for both the medical and veterinary sectors, is excited to announce that it has received funding from Innovate UK. This will support the upscaling of its revolutionary process for capturing, recovering, and purifying waste volatile anaesthetic agents. It is not commonly known that these agents, which are potent greenhouse gases, contribute over 3M tonnes of CO2 equivalent emissions across the globe annually.

Launched in January 2023, SageTech’s volatile anaesthetic waste capture technology has already seen commercial success in the UK, and significant interest in overseas markets. There are no existing technologies that can match the performance of SageTech’s processes in terms of efficiency (resource preservation) and carbon savings.

Earlier this month, Innovate UK chose SageTech Medical, in collaboration with the University of Plymouth, as one of the winners of a grant competition which will support the upscaling of their recovery and purification capacity. This upscaled capacity will support rapid and modular expansion across new markets including EU, USA, and beyond. In doing so, SageTech will create a global model for medicines manufacturing that is sustainable and scalable. This initiative not only promises to advance sustainability goals of anaesthetic delivery but also aims to protect the UK from global disruptions and supply chain pressures, such as those experienced during the COVID-19 pandemic.

Steve Wileman, Head of Research at SageTech Medical said: “Our commitment to innovation and sustainability is at the core of everything we do at SageTech Medical. We are very pleased to be working again with our academic partners at the University of Plymouth to deliver this exciting project.”

This project underscores SageTech Medical’s mission to lower carbon emissions in healthcare by tackling an issue that is often overlooked through innovative solutions, and leading the way in sustainable anaesthesia.

EMV CAPITAL LEADS C.£3.4 MILLION FOLLOW-ON INVESTMENT INTO SATCOM LEADER SOFANT

05.06.2024

EMV Capital

Funding to facilitate terminal delivery to key clients in growing SatCom market for commercial and government applications

EMV Capital (“EMVC”), the VC investor specialising in high-growth deep tech companies, is delighted to announce that it has led a c.£3.4m investment round into its portfolio company Sofant Technologies, a leading edge wireless technology company developing next generation phased-array antenna platforms.

The fundraising was led by EMV Capital, syndicated from its cohort of private EIS investors, and joined by Kelvin Capital and Scottish Enterprise. The company is now set to execute its go-to-market strategy, using funds from this investment round to deliver satellite terminals to SatCom operators and their clients in aerospace, defence and security and civilian applications. Sofant has made significant product commercialisation progress, including development contracts with Inmarsat (now part of Viasat), the European Space Agency and a global defence company.

Sofant’s proprietary technology enables operators to enhance their network capabilities and expand service offerings for both commercial and government applications. The company’s proprietary RF MEMS technology facilitates the development of a highly efficient radio platform that directly addresses the most difficult size, weight and power consumption challenges facing future wireless communication systems.

Dr Ilian Iliev, Managing Director of EMV Capital and Sofant Board member, commented:

“We are pleased with the success of this fundraising for Sofant that comes at a critical value inflection point for the company. In line with our capital-light investment strategy, we worked with management and our co-investors to develop the right funding structure for the company as it accelerates development. It is pleasing to see a UK-born semiconductor company make an impact on the global stage as a key enabler for future wireless networks with a growing number of commercial and government applications. We look forward to continuing our important work with the company.”

David Wither, CEO of Sofant, also commented:

“We continue to see strong and increasing interest in our target markets from both customers and prospective new investors. Sofant will use the proceeds from this investment round to deliver fully integrated SatCom terminals to our lead customers for network trials before the end of this year. This milestone represents a key value inflection point and the culmination of many years of development work. We thank EMV Capital and all our investors for their continued support. We look forward to a transformational year, and anticipate the launch of our first SatCom terminal which promises to transform the SatCom industry.’’

Must be a RNS stuck in the system.

EMV link out saying Sofant just raised £3.5M.

We are 2% and CUA of 30%

Another blinder of a deal.

Another day, another £2M+ uplift in valuation of a portfolio holding.

No doubt SFA on the SP.

Don't know why they don't take it private at £1.30/ £1.50 and be done with it. After all they own over 30% between them.

As I mentioned last week, Charles, the boss of Glycotest is presenting next week. First time in over 5 years he has said anything public.Hopeful we have one of those promised deals along side it?