Proactive Martin Diggle interview21 Jun 2019 15:15
A couple of things from the Proactive interview with Martin Diggle - He mentions that after looking with interest at Scancell since around 2013, their due diligence has gone on for at least the last 12 months in all aspects of the company, and that they looked at 25 to 25 other companies. That's a pretty exhaustive and rigorous selection procedure they have put Scancell through before committing. He describes Scancell (out of those they scrutinised) as 'the most fascinating and potentially the most rewarding investment.' That's entirely unambiguous. Given his track record I would suggest his ability to spot a good investment may well be slightly higher than those with whom one rubs shoulders on a bulletin board.
Also interesting that his modus operandi is to take between 15 and 25 percent stakes in the companies they go into, so this leaves some headroom for further investment in Scancell if funds were needed - potentially at least.
I particularly like his very spontaneous reply when the interviewer questions him about his quote that Scancell has been 'overlooked to some degree by the investment community', and before he has even finished the sentence, Diggle says 'Absolutely.' No qualification, no pause for thought before answering. A lot of these interviews can sound a bit wooden or scripted, but this one most certainly did not. Like LD's and CH's natural styles when talking about the science or the business, Diggle seemed entirely confident in having signed a cheque for almost four million quid into a small bio.