RNS Number : 1835P
NetScientific PLC
30 September 2013
 




30 September 2013

 

NetScientific plc

("NetScientific" or the "Group")

 

Director Dealings

 

NetScientific, the healthcare medical technology company, announces that on 27 September 2013 it received notification that, on 27 September 2013, Barry Wilson, Non Executive Director of the Group, purchased 6,150 ordinary shares of 5p each in the capital of the Group ("Ordinary Shares") at a price of 161p per share.

 

Following this transaction, Barry Wilson will hold 15,525 Ordinary Shares representing approximately 0.04% of the issued ordinary share capital of the Group.

 

- Ends -

  

 

For further information, please contact:

 

NetScientific plc

Farad Azima, Chief Executive Officer

Tel: +44 (0) 20 3590 8877

Liberum Capital (Nomad & Broker)

Chris Bowman / Christopher Britton / Thomas Bective

Tel: +44 (0) 20 3100 2000

Bell Pottinger

Daniel de Belder

Tel: +44 (0) 20 7861 3232

 

Company website:www.netscientific.net

 

 

About NetScientific

 

NetScientific is a healthcare medical technology company that identifies, develops and commercialises research and technologies originating from leading universities, teaching hospitals and research institutes globally, particularly in the United Kingdom and the United States.  The Group is primarily focused on identifying and developing research and technologies for use in five chronic disease areas within the healthcare diagnostics sector: (i) cardiovascular; (ii) liver; (iii) cancer; (iv) metabolic; and (v) digital health.

 

The Group's core strategy is to fund and develop translational technologies that offer transformative benefits to peoples' lives and society through improved diagnosis, monitoring and treatment of chronic disease.  Chronic diseases account for more than 70 per cent. of healthcare expenses in each of the United States and the United Kingdom, according to the Centers for Disease Control and Prevention and the UK Department of Health.  Accordingly, reducing the cost of diagnosing, monitoring and treating chronic disease has become one of the key challenges to the global healthcare sector.  Consequently, the Directors believe the Group's five areas of focus represent highly attractive growth markets with significant unmet medical need for technological development, and in which the Group's management has a significant amount of experience, expertise and strong existing networks.  The Directors also believe that focusing on these areas will provide the Group with a competitive advantage over private equity funds and generalised IP commercialisation companies, enabling it to create value for shareholders.

 

The Group's current Portfolio contains five standalone subsidiaries, two of which are close to key value inflection points and are currently the primary focus of the Group:

 

·      WANDA, Inc., which is developing a virtual patient engagement system that aims to improve the effectiveness of remote monitoring of chronic disease patients; and

·      Vortex BioSciences, Inc., which is developing a blood-based cancer test that detects circulating tumour cells.

 

Within the Group's Portfolio there are also ten pipeline opportunities currently undergoing evaluation and development.

 

 

Business Model

 

The Group aims to identify promising research projects and technologies that have the potential to be translated from research laboratory to clinical and commercial application. 

 

The Group provides researchers and technologists with funding and funding support, technical guidance and commercial expertise in return for rights over their project IP.  The Group aims to develop each project and IP through the proof of concept stage and onward to full commercialisation.  As part of the process, the most attractive opportunities are formed into portfolio companies, in which the Group typically takes a majority equity interest in return for further funding and guidance.

 

The Group aims to grow the equity value of its interests in its portfolio companies through various key value inflection points such as clinical trials, regulatory approvals, collaborative funding arrangements, first revenues and follow-on growth.  In turn, these value inflection points create exit or out-licensing opportunities for the Group through trade sales, licensing arrangements with larger market participants or IPOs. 

 

The Group has active collaborations with a number of US and UK institutions worldwide and has established dialogues with several other institutions that may lead to future pipeline projects.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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