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The Group’s GraftBio® division has signed a manufacturing services
agreement (the ‘Agreement’) with a prominent partner (‘the Partner’) in the
Israeli pharmaceutical market. The unnamed customer has an innovative
product whose manufacturing requires deep-seated understanding of and
experience with polymers. Following a recent, successful, pilot scheme, Graft
Polymer has been contracted by the Partner to produce its patented
haemostatic powder at its now fully operational production facility in
Slovenia, under which it will assume the role of lead contract manufacturing
organisation (‘CMO’). This represents an important step in the expansion of
the Group’s overall bio-product proposition. Having achieved its first
operating cashflow positive month during 2022, on the back of GraftBio®
’s
receipt of a commercial-scale drug delivery order from MGC Pharmaceuticals
Limited (LSE: MXC), the Group’s ability to find technical solutions, for what
have previously been considered intractable problems, through innovation
and collaboration is clearly its unique selling point. With a number of key
initiatives expected to support its drive for continued product and sales
growth through the remainder of this year and next, including plans to expand
global reach through the establishment of new partnerships and distribution
channels in emerging markets, the Board is confident in its ability to satisfy
the demands of this expanding, global market opportunity. Full year 2022
results released on 27 April 2023 noted that end-December cash/cash
equivalents amounted to £1.64m; with the period’s average monthly burn
likely to have been sustained during H1 2023, any additional funding that
could possibly be sought later this year will likely be directed toward
marketing, profile raising and securing such longer-term, sticky contracts.
Https://www.benzinga.com/pressreleases/23/08/g33549350/innovative-eyewear-inc-interim-company-update
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Consistent with the message provided to shareholders in June’s interim results statement Actual Experience, in conjunction with a large US channel partner, confirmed on Monday the securing of a second order for its Digital Workplace Management Platform (‘DWMP’) within 9 months of its commercial launch. The customer, an unnamed major global healthcare enterprise, selected ACT’s newly offered DWMP Light option, through which it entered a shorter-term engagement as a means of baselining its current digital ecosystem ahead of a major transformation programme. The contract value amounts to £135k in revenue for a 6-month project although, in expectation of delivering a positive digital experience, management anticipate discussions during this period will subsequently result in the phased international deployment of its complete system. Given the customer’s likely size, there appears to be the potential to generate annual recurring revenue streams that are multiples of the initial contract value. In addition to this, ACT this morning announced the signing of a Letter of Intent (‘LOI’) with Logicalis Group to seek its first customer for its new joint DWMP based product offering. Presently trading close to last reported net cash while retaining a runway that takes it into fiscal Q1 2024, the fact that ACT’s scalable and unique portal is being so well received within its highly addressable global market suggests opportunity for the rerating that now appears underway to be continued.
Https://www.globenewswire.com/en/news-release/2023/06/30/2697717/0/en/Regenerative-Suspension-System-Market-is-Projected-to-Attain-US-4-37-Billion-by-2032-Says-Fact-MR.html#:~:text=The%20global%20regenerative%20suspension%20system,will%20dominate%20the%20EV%20market.