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March Portfolio & Investment News

As we approach the end of an eventful Q1, the EMV Capital and NetScientific PLC Group is pleased to share the latest highlights across its deep tech and life sciences portfolio:

➡ Q-Bot Ltd has strengthened its Board with the appointment of Malcolm Groat as its second Investment Director, and a new Executive Chair to be announced shortly.

➡ ProAxsis has appointed EMV Capital and an external adviser to explore options for a potential sale of the company to a new strategic owner to scale the business to its full potential.

➡ SageTech Medical SID-Dock waste volatile anaesthetic gas capture machine was recently installed at NHS Ayrshire & Arran University Hospital Crosshouse and Hull University Teaching Hospitals NHS Trust Castle Hill Hospital. The company is now concentrating on the veterinary market, which represents a significantly higher emissions footprint compared to hospitals.

➡ Vortex Biosciences is focused on generating tightly scoped studies with leading researchers to highlight evidence of the technology to pharma and biotech customers.

➡ PDS Biotechnology has reported its 2023 financial results and outlined its clinical development strategy, which includes Phase 3 plans to address the growing incidence of advanced HPV+ HNSCC after FDA guidance.

➡ Ventive Limited and Q-Bot Ltd exhibited at the Futurebuild 2024 conference, where they showcased their innovative built environment solutions.

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Most impressed by the 2 presentations today.

So much going on it's difficult to keep up.

Pretty sure this will be moving a lot higher over the next few months.

Head of Heat Pumps

Ventive is hiring for a senior role as Head of Product for the upcoming production launch of our new Heat Pump for the Domestic market. Core to the design, manufacturing and commercialization of this technology, the successful candidate will be responsible for delivering an exceptional solution that meets the target market requirements. The Heat Pump uses an innovative modular design that results in significant benefits in this rapidly growing market. The company has advanced interest from UK and EU clients and distributors.

Type: Permanent

Location: Midlands/London/Hybrid

Salary: Package: 80-100k FTE, bonus and equity options

Application deadline: 26th January 2024

Ventive is a dynamic, VC-backed company that specialises in intelligent & renewable Building Services, such as its intelligent Heat Pump systems that provide heating, hot water, cooling and fresh air. The company’s vision is to become the energy platform of modern buildings: creating comfortable and healthy internal environments without costing the Earth. The company has a successful track record in bringing innovative energy/ventilation technologies to market, and has assembled a supply chain for the design and launch of it’s new Heat pump.

Assume we will get an update on the Heat Pump prior to the start of Future build on Tuesday?

Ventive is back showing our full suite of Building Services products: Intelligent Ventilation, Heating and Cooling solutions that autonomously react to the environment - creating comfort without costing the Earth.

We will be unveiling our latest all-in-one Heat Pump, following years of development and welcome you to come and meet the team behind this innovative technology.

From last years fundraise.

The proceeds of the Investment will support the completion of the design and test phase and factory build for Ventive's modular heat pumps, further enhancements to its passive air ventilation product range, and build-up of its marketing and sales capacity to drive sales of its existing product range. The Ventive balance sheet is also streamlined following the conversion of the convertible loans.

Following completion of the Investment, the total equity holding of the NetScientific group in Ventive is 11.0% on a fully diluted basis, which includes the partial settlement of its corporate finance fees relating to the Investment. This holding equates to a post-investment fair value of GBP893,000, a substantial increase of 1,617% from the GBP52,000 reported as at 31 December 2022. In addition, following the introduction of investors to Ventive by EMV Capital under its capital efficient model, NetScientific's capital under advisory with Ventive is now 23.8% of the fully diluted share capital.

Ventive designs and manufactures intelligent heating and ventilation solutions to make buildings healthy, comfortable, efficient, and affordable. Its products address two high priority markets segments: air quality and sustainable heating.

Ventive's passive air ventilation system has been delivered to over 30 schools and five leisure centres, achieving excellent air quality results. Its novel heat pump product, which is in advanced stages of development, is a comprehensive solution for residential applications, with a unique modular design and a novel thermal store. Momentum for the business is underpinned by significant regulatory changes, increasing energy prices, and climate change policies.

Just out.

February Portfolio & Investment News

Throughout February, the EMV Capital and NetScientific PLC group have seen further developments in its deep tech and life sciences portfolio, and continue building a robust team:

▶ EMV Capital has strengthened its operational team with several new hires, including Andrew Maylor as Consulting Associate, Josh Smith as Private Client Manager, and Selina Frost as Client Services Manager.

▶ Q-Bot Ltd has welcomed John Burley as its new CTO to advance the use of robotics, digital and AI in the retrofit and construction sectors.

▶ ProAxsis has welcomed Matthew Blow as its new Head of Commercial and Business Development. The company is now expediting its Point of Care range in the $5.8 billion global respiratory disease testing market.

▶ PointGrab has welcomed Nathan Toms as its new Sales Director overseeing EMEA and North America.

▶ SageTech Medical has made further progress in commercial discussions in the European human and UK veterinary markets.

▶ Dr ILIAN ILIEV, MD of EMV Capital, participated in the Verbier ConstructionTech Summit 2024 focused on the future of construction and sustainability. With presentations from Q-Bot Ltd and Ventive Limited, the event was organised by our partners Shibumi International and IMPULSE PARTNERS - A FAST LANE FOR INNOVATION.

▶ Edward Hooper, Director of EMV Capital, participated in a panel discussion at the British Private Equity & Venture Capital Association (BVCA) First-Time Fundraising Forum on 29 February, providing valuable insight into raising funds from LPs.

▶ EMV Capital is now directly authorised and regulated by the Financial Conduct Authority with firm reference number 982590.

The whole portfolio is on the up.

Nothing from Proaxis for almost a year and then in the last month they have kicked out the useless CEO, hired about 10 people and gone into overdrive on Instagram etc etc.

I follow a couple of the USA investors who specialise in biotech.

Pretty sure PDSB is about to go parabolic!

Looks like another massive 2M plus volume day at PDSB.

Over $20M up on the day, so £800k to NSCI and we actually went down.

I am so looking forward to the day that PDSB just goes vertical and we double on the news.

AIM and the UK market in general is the worst I have ever seen in 30 years.

Looking forward to seeing these deals announced.

Following the Investment and conversion of the 2023 CLA (assuming all accrued interest is converted), the Company's direct stake in Glycotest will be 55.90 per cent, alongside Fosun's interest of 34.75 per cent. and the 2023 CLA interest of 6.16 per cent.

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.

Those options were from the 382K he got when he joined NSCI.

Exercise price was 45p so easy money for NSCI.

He also had 254K at £1.24p.

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.

Myles put out a tweet this morning saying he now only holds 2 stocks.

I think a few of his followers assumed he was still holding MKA and probably followed.

As he says, a trade is a trade!

Deeptech valued at zero in the recent results so safe to assume a valuation of £1M+ for our 30% stake after this fund raise.

Credit to NSCI for doing what they promised and adding value to the portfolio.

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%.