Member Info for Muck165

Well if your little grey cells think there might be something in it, that’s good enough for me!

One other thing I’ve been unsuccessfully trying to establish is what project Sensornas is. The Mirnax paper on AffiDx says - “ The tests were completed under the frame of Project SENSORNAS RTC-20176501 in collaboration with MiRNAX Biosens Ltd.”

Mirnax disclose their funding as “ Funded by: FEDER / Ministry of Science, Innovation and Universities - State Research Agency / SENSORNAS Project: Development and validation of a marketable kit for the detection of chronic diseases using point-of-care devices (RTC-2017-6501-1)”

FEDER is the European Regional Development fund.

Do you know any more about this Poirot?

Probably all codswallop, but thought I’d share anyway!

Pablo Castan - currently CSO at Mirnax. Previously R&D Director at Arcis Bio. Co-authored the AffiDx study, along with other Mirnax staff. Has promoted the Medusa RSPT on Spanish TV.

Peter Whitehurst - left after 10 years as CEO of Arcis to set up Agile Life Sciences, and Medusa 19 life sciences in 2020. Agile is based in the same Daresbury tech camp as Arcis. Agile site now shows “Day two lateral flow tests - coming soon”. Doesn’t post much on LinkedIn, but last activity related to Zeus Capital, ie Hughes.

Arcis Bio - great global distribution network

I post this only because it’s always seemed odd to me that the CEO of Arcis would just quit to set up M19 LS and Agile unless he was backed or had good reason to think it would succeed. He will surely have known Castan while at Arcis, (who is clearly linked to Mirnax and M19), and it may well be that he has got some link with M19 himself given the M19 LS incorporation.

Like I say, probably codswallop, but I do wonder if Agile/Arcis/Whitehurst might somehow be involved in the Meduflow distribution.

Should support this by saying that Medusa 19 secured both U.K. and European trademarks for Meduflow on 2/11. That is certainly a fact, whatever the debate about the brochure.

After much debate on the AVCT board about how genuine the brochure is..

https://twitter.com/MylesMcNulty/status/1461978712921055233

Agree completely, and with A2D, which is why I couldn’t believe my luck at being able to get some yesterday at 4.48!

The issue for ABDX is short term cash flow pending DHSC payment.

According to the RNS, on 9 November non binding agreement was reached through the contractual dispute process for the DHSC to pay substantially all of the debt.

AVCT appear ready to blow, and Vatic are due to launch next month. We are a major manufacturing partner to both, and so in all of the circumstances, if I were Vatic or AVCT I might be interested to see if we could assist ABDX with short term lending, or perhaps advance payments. The prospect of ABDX going under would be hugely damaging to both.

What do people think? Is this allowed?

Looks that way to me!

For those that haven’t seen it

https://twitter.com/downunderfutbol/status/1461340275247251456?s=21

This is a hard copy brochure from the Medua19 stand at the Medica conference in Germany. It looks like they’re re branding the home use version of AffiDx as Meduflow.

Apart from anything else, it tells me they’re fully expecting AffiDx to get HUA.

“Significant” orders from Avacta, I think the RNS said…,

Just some current project work from Tomlinson

https://astbury.leeds.ac.uk/people/dr-darren-tomlinson/

Thought the potential for using Affimers to target antibiotic resistance was interesting

Couple of tweets from Mosman this morning

https://twitter.com/Mosmanoilandgas

Agree. Lots of options other than a placing for short term cash flow needs, particularly given the DHSC seems already to have agreed settlement of substantially all the debt through mediation

Agree- lots of options other than a placing for what I think is very much a short term cash flow need, caused by a creditor already indicating it will substantially settle through mediation

Agree Iceman - the short term position looks dire but it really does seem to be short term only pending DHSC settlement

Whoops, c£1.2m burn - sorry!

There are lots of good things here, but it seems to me we urgently need funding.

Cash at 30/6 - £5m
Cash at 30/9 - £1.5m

Average burn rate over that period is c£1.7m per month. We only had £1.5m nearly 2 months ago.

From the RNS

“We have received significant purchase orders for manufacturing batches from Vatic and Avacta, in advance of completion of technical transfer of their products, and we are putting in place the required component stock to allow us to seamlessly move into manufacturing in due course. The transfer of these antigen tests is timely given the move towards private-sector testing in the UK, the transition to cost-effective lateral flow testing from PCR testing for travel as well as the increased focus on antigen testing starting to emerge in the United States.”

@starbright

Cash at 30 June was £5m

But cash at 30 Sept was £1.5m (see risks and uncertainties section).

There is clearly a placing risk, although the DHSC mediation looks promising., as do the significant manufacturing orders from Avacta and Vatic.

For info, I see Vatic granted a charge over its assets to a company called Fundsquire earlier this month, presumably as debt security. Can’t see why Fundsquire would lend unless it believed in the Vatic proposition.

https://find-and-update.company-information.service.gov.uk/company/12275099/charges

Also perhaps worth noting that Vatic seem to have been running US based trials, overseen by this chap

https://www.linkedin.com/in/pepper-chastain-b188832/

That’s relevant I think because the FDA insists on trials, particularly usability studies, being done on home soil before granting an EUA, and because there has recently been a very clear priority shift at the FDA towards home use Ag tests.

Does anyone know what potential our resource might have for graphene production?

One thing that tends to be forgotten is our PCRD product, which we have been selling. TwistDX (part of Abbott), for example, sell it through their site.

https://www.twistdx.co.uk/en/products/product/pcrd-nucleic-acid-detection

https://www.twistdx.co.uk/docs/default-source/Application-notes/app-note-001---pcrd-rpa-use-v1-7.pdf?sfvrsn=615403fc_46