Short Term Gains2 Nov 2020 16:40
Everything about Vela is to increase the value to share holders in the short term;
From the 5th October RNS:
Investment strategy
This investment has been made in line with the Company's investing policy and the strategic emphasis of delivering demonstrable, short-term, value accretion for Vela's shareholders. Specifically, Vela will henceforth be more focused on three key areas within the Company's existing technology-focused investing policy and the broader disruptive technology space:
· Pre-IPO investments where Vela can play an active role in helping achieve the market listing and a consequential potentially material return on its investment, within an anticipated time horizon of six to twelve months;
· "Special Situations" within the UK public markets, where the deployment of Vela resources, funds and expertise can potentially deliver a material return to shareholders, also within a relatively short time horizon; and
· IPOs or other public fund-raising processes, where the connectivity and market position of the company, its investee companies and its key stakeholders provide the opportunity for Vela to participate in closely-held or 'invitation only' situations.
Additionally, other investments which are outside the above focus areas and in accordance with the Company's existing investing policy, will continue to be considered by the Vela Board on a case-by-case basis.
James Normand, Executive Director of Vela, commented:
"We believe Mode has an exciting future as a listed company. We are pleased to participate in this over-subscribed fundraise. The Board continues to assess a number of other investment opportunities with a view to growing the Company's investment portfolio in the near future."
From the 20th October RNS;
Further information on St George Street
St George Street is a UK-based medical-charity led by a group of highly decorated academics and ex-pharma executives formed to deliver much needed treatments to patients. SGS's strategy is to take clinical-ready assets from pharmaceutical companies and to progress them through Phase II medical trials, before licensing them on for Phase III trials and commercialisation in order to create a return for investors and the charity alike.
Under an agreement entered into in August 2019, SGS has acquired the right to develop and commercialise two assets from a major global pharmaceutical company, one of which includes the licence to a drug that could be beneficial to diabetic patients suffering with COVID-19 (the "Asset"). Diabetics have significantly higher mortality compared with non-diabetic patients in COVID-19 and in clinical studies this drug, SGS002, has been found to be safe in almost 1,000 patients with diabetes and has a blood glucose lowering effect for four months. Blood glucose control has been proposed as a key factor in reducing complications from COVID-19 in diabetics.
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