Member Info for Muck165

Really sorry to hear your story PW, and thanks for the links.

For info, Loop DX announced this morning that on 6 July they will be presenting findings from their Septibell project, being the pilot clinical trial of the Sepsis test we have been helping them with, and which they claim is 3x more sensitive and 10x faster than current test offerings. We have been their CDMO partner - they are looking to commercialise in 2023.

https://www.secpho.org/agenda/aei-septibell/ - translation here

"Sepsis is a disease that affects 30 million patients and causes the death of 6 million of them, which is approximately one death every two minutes, more than from prostate cancer, breast cancer and AIDS combined. This disease is a life-threatening condition caused by the body's inflammatory response to infection. Although they are infections that could be treated with antibiotics, they have a complex diagnosis and are too often identified late.

In this context, the SEPTIBELL proposal arises with the intention of developing a rapid sepsis detection system. Its main objective is to quantitatively and automatically digitize lateral flow immunoassays with the intention of detecting sepsis after the first hour of bloodstream infection. Specifically, a mobile reading solution and a state-of-the-art "point of care" desktop reading device have been developed to quantify the level and severity of an infection using Deep Tech technologies."

Loop have plastered the fact of the presentation all over their linkedin today so I am assuming the results will be positive!

Well, I don't agree with the current price either. Given the multiple projects we are working on across a diverse range of applications, at the cutting edge of the tech and with the potential to make/save millions and potentially billions, I reckon we are ridiculously cheap at the moment.

I see we got a 1 star review on Superdrug from someone who says they were positive using 21 different tests over 5 days from different brands, but negative with Salistick.

Now why would you do 21 tests? We have a shorter somewhere in our midst!

I don't have level 2 but I am currently being quoted over the ask to sell. We in for a bounce?

Just another piece on this. Some nice quotes

“ By identifying Upfront Diagnostics biomarkers with a handheld blood test, paramedics are able to recognise LVO stroke cases within 15 minutes and take patients directly to a comprehensive stroke centre for treatment. It saves more than 1 hour and 30 minutes over the current clinical pathway, billions in medical treatment costs, helps avoid disabilities, and saves lives.”

“ The seed funding will be used to scale up the technology and its accuracy” (ie with our help!)

“ LVOne could revolutionise the stroke care pathway globally, getting patients rapidly into stroke centres and access to interventional radiology services quickly, generating positive clinical outcomes rapidly. It can be a rare find in health tech to find an investment where you change outcomes so definitively, but this is one of them.

The impact on the healthcare workforce, the social care system and the broader economic benefits of this solution will also be felt. Stroke is a preventable disease, but growing. We need better diagnostics and optimised care pathways. Effective point-of-care testing is fundamental to achieving that.”

https://bmmagazine.co.uk/get-funded/upfront-diagnostics-secures-1-6m-funding-to-revolutionise-stroke-diagnosis-with-rapid-blood-test/

Upfront published this today. So, in addition to the £790k grant, they’ve just secured a further £1.6m in a seed funding round “to support the development of prototypes and evaluation before real-world implementation“ and “scale up the technology and its accuracy for identifying large artery strokes in real-world patients. Upfront Diagnostics will also expand its team and prepare for clinical approval.”

So that’s “development”, “scale up”, and regulatory (clinical) approval.

We know we are collaborating with them (see posts below), so I think undoubtedly we are their full CDMO partner supporting all 3 of their goals, and so a good size chunk of both the £790k grant and £1.6m seed funding will be heading our way.

No wonder Chris Yates liked their LinkedIn post about it today!

As I say, we are most certainly not just about Salistick.

https://techfundingnews.com/london-startup-snaps-1-6m-for-a-rapid-blood-test-detecting-stroke-in-minutes/

Lots to be positive about HDTU!

As far as I am concerned, ABDX caught a double edged sword with Covid. On the one hand they stretched their business to meet a govt need only to get shafted. But on the other, Covid demonstrated the merit of early diagnosis and rapid testing, and gave way to a whole plethora of new test developers all eager to engage in the paradigm shift towards de-centralised, more cost effective and efficient healthcare. The board acted prudently to rightsize and are now already seeing the benefit of more and more contracts at the cutting edge of the tech.

The direction of travel here is a good one - it might just take a little longer to play out than some might like.

I agree that perhaps more could have been done to market Salistick but, again, we are in early days. I am encouraged, however, by the global press coverage it has got, much of it using words like ground-breaking and revolutionary. Early legit reviews will give us a good indication because really, the best marketing we can hope for is that our customer demographic start talking about it.

No expert, but I’d say traders bought the rumour and sold the news - we might have hit 17 on the spike but I can’t recall us closing there. Now we just have FUD because people didn’t make the gazillions they hoped for immediately after a revolutionary, groundbreaking new product launch - a bit of patience to let the product flow into the market, and allow a company that has plenty of opportunities, is all that’s needed.

Honestly can’t understand why people invest, or remain invested in a company unless they have belief in it.

It was just that - a collaboration agreement. We might have spent some money on it but nothing major I dont think.

Honestly, I think we are cheap at this price, even without Salistick, but then I suppose I am taking a longer term view than some.

Https://www.londonstockexchange.com/news-article/VAST/results-of-general-meeting/16014800

Nope - the sought authority wouldn’t give us enough cash at current SP anyway, let alone a discounted one. And it would be heavily discounted I think.

So what’s your view ASI? Vote passes but we agree a short extension to await settlement?

If the vote passes then AP has two options; place or negotiate for further extension. But if I were the lenders, why would I agree to more time if I know the monies are on the table now via an issue?

All assumes we’re no further forward on the diamonds of course.

On the plus side, we have plenty of cash and no debt

We knew they weren’t really trading but, even so….

Looks to me that we have just two Verify clients generating 99% of that turnover. The really disappointing things are the cost of sales given the extent of sales, and the continuing silence about/vagueness about plans going forwards.

Except I suspect many of the reviews are us lot - I’m certainly one of them! For next week, tomorrow in truth, I’m hoping to see the product actually available to buy on Amazon. Thereafter we should get an idea about product sales from that marketplace.

Further to my last, at least madeformums are interested! Lets hope they get to test it (and they like it!)

https://twitter.com/MadeForMums/status/1672229804114886657

54k followers on twitter.

Exactly - this needs to get onto sites targeting our audience. I've been trying to ensure awareness across sites like mumsnet, emmasdiary, madeformums, baby and mother magazine etc but I am absolutely no social media guru. Hopefully ABDX has got someone on the case - certainly there are new interesting likes to their and Salignostics linkedin posts indicating that social media marketing and influencer consultancies are onboard/noticing the product.

Which I am! Pure punt money.

I agree. But another question is whether or not, given the current SP, a placing equivalent to 48.5% of current shares in issue will even be enough to cover the £7.3m debt repayment. And that ignores the placing discount I suspect would be involved, and that we probably need even more cash to cover operating costs.

Wouldn’t be surprised to see AP try and chuck out some vague but prima facie positive news to spike the SP, just so he can place at a price sufficient to cover the debt.