The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNetscientific Regulatory News (NSCI)

Share Price Information for Netscientific (NSCI)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 63.50
Bid: 62.00
Ask: 65.00
Change: 1.00 (1.60%)
Spread: 3.00 (4.839%)
Open: 62.50
High: 63.50
Low: 62.50
Prev. Close: 62.50
NSCI Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Vortex Fundraising

22 Jun 2023 07:00

RNS Number : 5143D
NetScientific PLC
22 June 2023
 

For release on RNS: 07.00, 22 June 2023

NetScientific plc

("NetScientific" or the "Company")

Vortex Biotech Holdings Ltd £3.2 million Fundraising

NetScientific Plc (AIM: NSCI), the investment and commercialisation group with an international portfolio of innovative life science, sustainability and industrial technology companies, is delighted to announce the completion of a new £3.2 million investment round in its portfolio company, Vortex Biotech Holdings Limited ("Vortex"), led by EMV Capital ("EMVC"). 

Vortex is focused on developing its position in the multi-billion dollar oncology liquid biopsy market.

Vortex's core technology allows for the capture and isolation of intact, label-free and pure Circulating Tumour Cells ("CTCs") from blood samples. Its mission is to be the innovation leader in CTC capture technology that together with a range of downstream workflows help to enumerate and characterise the CTCs to improve therapeutic decision making and save lives. This exciting area will provide researchers and clinicians with access to critical insights from whole cancer cells that underpin one of the main causes of metastasis, treatment resistance and disease recurrence, contributing to a major shift in how cancer can be treated and monitored.

Alongside the new investors into Vortex, NetScientific converted its £0.4 million loan into equity. Following completion of the fundraising, the total equity holding of NetScientific in Vortex is now 24.98%, which equates to a post-investment fair value of £2.8 million, an increase of 300% from the £0.7 million reported as at 31 December 2022. In addition, following the introduction of investors to Vortex by EMVC (the wholly-owned subsidiary, and the corporate finance and venture capital arm, of NetScientific), the NetScientific capital under advisory with Vortex is 13.90% of the issued share capital. 

Paul Jones, CEO of Vortex, commented:

"We are thrilled to welcome this new investment, enabled by EMV Capital's fund-raising support. It helps us accelerate our plans for a breakthrough in how CTCs can be used to inform oncology treatment and monitoring. Precision diagnostics in combination with innovations around targeted therapies are enabling remarkable progress in personalised medicine. We're determined that Vortex will play a major role in this space - in the short term at the interface to biopharma and in the long term, in partnership with clinical health systems worldwide."

Dr Ilian Iliev, CEO of NetScientific added:

"This transaction clearly showcases our unique ability to combine a capital light investment approach with value creation support for promising businesses. Following support by our value creation services and fundraising team, the company is now ready to accelerate its growth in the UK and US. With this new investment, Vortex is well positioned to advance its presence in the multi-billion dollar oncology liquid biopsy market."

The person responsible for arranging the release of this announcement on behalf of the Company is Ilian Iliev, Chief Executive Officer of the Company.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

-Ends- 

For more information, please contact:

NetScientific

Ilian Iliev, CEO Via Belvedere Communications

 

WH Ireland (NOMAD, Financial Adviser and Broker)

Chris Fielding / Darshan Patel / Enzo Aliaj +44 (0)20 7220 1666

 

Belvedere Communications

John West / Llew Angus +44 (0) 203 008 6867

Email: nsci@belvederepr.com

 

About NetScientific

NetScientific plc (AIM: NSCI) is an investment and commercialisation group with an international portfolio of innovative life science, sustainability and technology companies.

NetScientific identifies, invests in, and builds high growth companies in the UK and internationally. The company adds value through the proactive management of its portfolio, progressing to key value inflection points, and delivering investment returns through partial or full liquidity events.

NetScientific differentiates itself by employing a capital-light investment approach, making judicial use of its balance sheet and syndicating investments through its wholly owned VC subsidiary, EMV Capital. The group secures a mixture of direct equity stakes and carried interest stakes in its portfolio of companies, creating a lean structure that can support a large portfolio.

NetScientific is headquartered in London, United Kingdom, and is admitted to trading on AIM, a market operated by the London Stock Exchange.

www.netscientific.net

About Vortex

Vortex, which has benefited from c.$38.5 million in historical investments in the US and Europe, has developed a "no touch" microfluidic chip technology which captures intact, label-free and pure circulating tumour cells (CTCs) from blood, with high yields. These CTCs can then be analysed using a range of downstream workflows that help characterise them. This will provide researchers and clinicians with access to critical insights from whole cancer cells that underpin one of the main causes of metastasis, treatment resistance and disease recurrence.

Originally a spin-out from University of California, Los Angeles, Vortex is now dually based in the UK and the Bay Area, US. As the next phase of growth, Vortex will set up CTC Centres of Excellence with an associated lab services business to serve biopharma customers. This will help deliver a step change in the use of CTCs to inform oncology treatment and monitoring. Longer term, Vortex will look to build on academic and industry engagement to open an interface into clinical health systems around the world.

www.vortexbiosciences.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCBFLLLXQLFBBK
Date   Source Headline
21st May 202111:00 amRNSPrice Monitoring Extension
20th May 20214:19 pmRNSPDS Announces Release of PDS0101 Abstract
20th May 20217:00 amRNSEMV Capital Advises on £3.4m PointGrab Fundraise
18th May 20217:00 amRNSPDS receives $4.5m from net sale of tax benefits
13th May 20213:15 pmRNSPDS Reports Results for Q1 2021 & Business Update
13th May 20217:00 amRNSEMV Capital Advises on £2.9m SageTech Fundraise
30th Apr 20217:00 amRNSPDS Announces Presentation at ASCO Annual Meeting
28th Apr 202110:08 amRNSEMV Capital Advises on £740k Fundraise for Sofant
14th Apr 20212:25 pmRNSNotice of AGM and Annual Report & Accounts
31st Mar 20219:02 amRNSPreliminary Results for the year ended 31 Dec 2020
30th Mar 20217:00 amRNSNotice of Results & Investor Presentation
18th Mar 202111:48 amRNSPDS Reports Results for FY2020 & Business Update
11th Mar 20213:26 pmRNS$60m Commitment for PDS Vaccine Consortium
23rd Feb 20217:00 amRNSPDS Biotech Consortium Update
22nd Feb 20217:00 amRNSProAxsis Update
10th Feb 202111:01 amRNSPrice Monitoring Extension
10th Feb 20219:05 amRNSSecond Price Monitoring Extn
10th Feb 20219:00 amRNSPrice Monitoring Extension
5th Feb 20214:40 pmRNSSecond Price Monitoring Extn
5th Feb 20214:35 pmRNSPrice Monitoring Extension
5th Feb 20212:06 pmRNSSecond Price Monitoring Extn
5th Feb 20212:01 pmRNSPrice Monitoring Extension
5th Feb 202111:05 amRNSSecond Price Monitoring Extn
5th Feb 202111:00 amRNSPrice Monitoring Extension
3rd Feb 20212:45 pmRNSRestoration - Netscientific plc
3rd Feb 20212:45 pmRNSPDS Phase II Trial Update & Restoration of Trading
2nd Feb 20217:30 amRNSSuspension - Netscientific plc
2nd Feb 20217:00 amRNSSuspension of Trading on AIM
25th Jan 20217:00 amRNSIssue of Shares, Director/PDMR Shareholding & TVR
4th Jan 202110:31 amRNSHolding(s) in Company
21st Dec 20202:59 pmRNSPDS Announces Publication of Data by Mount Sinai
10th Dec 20207:00 amRNSProAxsis awarded Innovate UK grant
7th Dec 202011:05 amRNSSecond Price Monitoring Extn
7th Dec 202011:00 amRNSPrice Monitoring Extension
2nd Dec 20207:00 amRNSBoard changes and Grant of Options
30th Nov 20201:56 pmRNSEMV Capital leads a £1.28m investment in SageTech
19th Nov 20207:00 amRNSProAxsis appoints DiaPharma as distributor
11th Nov 20202:10 pmRNSPDS updates on Versamune based COVID-19 vaccine
10th Nov 202012:47 pmRNSPDS Biotech Initiates VERSATILE-002 Phase 2 Trial
27th Oct 20209:46 amRNSPDS Announces Initiation of PDS0101 Phase 2 Trial
16th Oct 20207:00 amRNSNetScientific acquires 100% of portfolio company
30th Sep 20209:08 amRNSDirector/PDMR Shareholding
30th Sep 20209:07 amRNSHolding(s) in Company
30th Sep 20208:58 amRNSHolding(s) in Company
25th Sep 202012:37 pmRNSGrant of Options to Director
24th Sep 20207:00 amRNSInterim Results
2nd Sep 20207:00 amRNSHolding(s) in Company
2nd Sep 20207:00 amRNSHolding(s) in Company
24th Aug 202011:28 amRNSResult of General Meeting
21st Aug 20201:23 pmRNSHolding(s) in Company

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.