The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
SV - presumably your comment was made because we invest in India, ergo you will never invest in SYN.
If you’re not invested, and you’re never going to invest, what’s your interest here beyond spreading far right political views?
No probs mate - just my opinions really. Hope all ok with you.
Worth noting a few other things I think.
In the presentation Lucksin reposted Yates was asked about our competitors.
One was DCN in the states, who we actually already have collaboration agreements with. One was BBI in Wales (who we’ve worked with). One was in Spain if I recall.
The point being that globally, these few companies represent our competition (at least according to Yates!)
Since Covid the number of test developers wanting the services we and these others offer has ballooned. Seems to me, therefore, that demand very much outstrips supply.
On 52 North, remember that not only are they in IDAP and funded by MacMillan/innovate U.K. etc, but they were recently selected to join two of the largest, most competitive and prestigious healthcare accelerator programmes in the US. I also note that they have doubled their staff count over the last year, and of course are now looking to appoint a CTO to, in part, manage relationship s with us. I have a lot of hope for 52N (as well as Upfront).
Finally, worth remembering that the geography we are seeing most revenue growth from is the US.
Completely agree.
Post Covid the light has really been shone on LFT potential across a whole host of varied and lucrative applications, and there has been an acceleration in LFT tech, and test bio marker developers wanting to use it. It was a great move for us to transition into a CRO/CDMO to become true experts in that field and be one of few able to help all those developers. We have some great things in the pipeline, the real issue being treacle like regulatory processes delaying approvals and, therefore, mass manufacturing contracts.
But those approvals and manufacturing contracts will come in time, and the new IDAP scheme will accelerate that.
As it stands, we’ve rebuilt the foundations, planted lots seeds, are at a stupidly low SP with heavily aligned directors, a low free float, and are just waiting for everything to blossom. It might be boring at the mo but with some patience this will flourish imo.
Have been looking at 52 North again.
-Received the first-ever investment for Macmillan’s new £3.5m Innovation Impact investment portfolio.
-MedTech Company of the Year' in the 2023 Cambridge Independent Science and Technology Awards
-Now part of the IDAP pathway (which seems really significant to me)
As far as we are concerned, I notice they’re currently recruiting for a VICE PRESIDENT, TECHNOLOGY (IN VITRO DIAGNOSTICS), whose job description includes;
“Manage our partnership with a leading CRO, ensuring alignment with our development goals and timelines.”
“Lead coordination with the CRO for clinical trials, regulatory submissions, and other critical processes.”
We are that CRO. So they are recruiting to boost engagement with us.
https://salutemyjob.com/jobs/vice-president-technology-in-vitro-diagnostics-cambridge-cambridgeshire/1236396301-2/
On a broader point, the new IDAP pathway appears to be a U.K. govt initiative to identify breakthrough technologies and to accelerate access by breaking free of European medical device regulations that are clogging up the whole system and causing delays. If the current pilot scheme works then it could open up significant opportunities for us beyond the 2 companies were helping in the pilot.
This is well worth a read I think;
https://www.gov.uk/government/publications/the-innovative-devices-access-pathway-idap/the-innovative-devices-access-pathway-idap-pilot-phase
It sets out details about the new govt innovative devices access pathway, inc its aims, eligibility criteria, and benefits. Of note for me were;
-multiple govt agency support to progress products quickly to mkt.
-Fast track review
-The potential for “exceptional use” authorisation from MHRA.
-The criteria for getting into the scheme included; “ The use of the device in the healthcare system has the potential to be transformative” and “ The product will provide system wide benefit and be widely adopted”.
In a nutshell, this is a multi govt agency scheme to support devices with the most potential to deliver transformative outcomes across our national health service.
8 were selected. We are working with 2 of them. Fair chance we could therefore soon be making 2 tests widely in use within the NHS.
Have you seen something Ant? The only thing I saw is that Loops CTO is having an interview shortly with a Spanish Biotec organisation to discuss the problems with the Notified Body regime under new regulations, and the delays it’s causing in getting approvals.
Just for awareness, but Salistick is now available through Apoteket (the largest pharmacy chain in Sweden). Its branded as coming from Addeira, who have rights to distribute it in the Nordic region just like we have the rights in the UK and Ireland, but unlike us they have no part in its manufacture.
Its also available through SuperPharm in Israel, again their largest pharmacy chain.
The point being that sales, wherever they may be, are likely to have an impact on our bottom line because we are making elements of the test for whoever sells it.
JP - just with reference to your first post in this thread, in my experience companies like to give themselves headroom equivalent to roughly 25% of shares in issue each year, and they typically ensure this with standing agenda items at AGM's.
We didn't do it at the AGM, we are doing it now, and the 2.7m we are asking for is roughly 25% of the shares in issue.
All routine stuff imo.
That’s what I was thinking. Another ignorant question (!), but if the shares were issued without authority in December, could they be lawfully traded until the issue was ratified (even though admitted to the exchange)?
If yes, then what happens if shareholders refused to ratify?
If no, then it might explain the dump of stock today post the GM.
We’re getting somewhere! That’s precisely my point.
We issued 1,375,000,000 shares which were apparently admitted to trading in 19/12.
Resolution 1 at the GM was table to RATIFY that issue of stock.. Resolution 2 was tabled in respect of the warrants linked to that issue. The subsequent resolution relating to headroom was only added to the GM agenda later.
I am just trying to understand why a share issue apparently done in December needed ratification in a GM now.
Gordon, resolution 1 read
Resolution 1 - Ratification of issue of Placement Shares to clients of Novum Securities Limited
To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution:
"That Shareholders ratify the issue of 1,375,000,000 new fully paid ordinary shares by the Company on the terms and conditions in the Explanatory Memorandum."
Resolution 2 related to the warrants. Neither related to the headroom, which was the new addendum to the agenda.
That's certainly an understandable position - Yates is well aware shareholders are frustrated by the lack of transparency yet seems to do little to address it. But personally I will be adding more when funds allow because this does seem to me to be a tanker that is turning and now moving in the right direction, with far more positives than negatives as far as I can see.
New survey published a couple of days ago
https://www.news-medical.net/news/20240213/UK-patients-want-better-access-to-early-and-accurate-diagnostic-tests-survey-shows.aspx
Https://www.med-technews.com/news/medical-device-news/government-announces-%C2%A310m-to-help-eight-companies-bring-inno/
Confirms the ten companies given money by the NHS. It includes Upfront, as per my previous posts, but also 52 North which we are helping with their Neutropenia test.
It seems to me that there is an imbalance between test developers and CDMO's like us, which the developers need to advance their tests through to commercialisation, which means we get to pick and choose those we want to work with. The fact that 2 of our partners are just a select few receiving govt funding suggests we are choosing well.
Https://www.linkedin.com/posts/gonzalo-ladreda-06a903b8_healthcareinnovation-publicfunding-bbclookeast-activity-7163814784075829248-PWbg?utm_source=share&utm_medium=member_desktop
High hopes for this one....
For anyone interested
https://www.selanoil.com/wp-content/uploads/2024/02/Regulation-30-Announcement.pdf