NetScientific divests non-core assets to align its healthcare portfolio
London, UK - 7 August 2015 - NetScientific plc ("NetScientific" or the "Group", AIM: NSCI), the transatlantic biomedical and healthcare technology group, announces that as part of an ongoing review of its portfolio, it has started to divest certain projects that fall outside of its core areas of focus.
As a result of this process, NetScientific has now divested control of RoboScientific Ltd to management. The Group has also started to divest its other non-healthcare company, MOF Technologies Ltd, and is discontinuing support for certain projects and companies, including Morphodyne SA, Qlida Diagnostics, Inc. and Advanced Biosensors, Inc. A full update will be included in the interim results.
These strategic decisions have been made as the Group continues to re-align the portfolio to focus on its three core areas in healthcare. These are sectors with attractive growth markets where breakthrough technology solutions are in high demand. The Group will be concentrating on its lead companies and further strengthening its relationships with strategic partners to build a unique transformative portfolio.
Francois Martelet, CEO of NetScientific, said: "Our focus is firmly set on accelerating growth of our lead companies whilst continuing to work with the best and most innovative institutions with breakthrough technologies in our core areas of focus - digital health, diagnostics and therapeutics."
Notes to Editors
NetScientific is a biomedical and healthcare technology group that funds and develops technologies that offer transformative benefits to people's lives and society through improved diagnosis, prognosis and treatment. For more information, please visit the website at www.netscientific.net.
About RoboScientific Ltd
RoboScientific is developing a range of highly sensitive electronic sensors that are able to act as an 'electronic nose' enabling the detection of extremely small traces of volatile chemical compounds. For more information, please visit the website at www.roboscientific.com
About MOF Technologies Ltd
MOF Technologies has developed a novel technique for the synthesis of MOFs, which is environmentally friendly, rapid and highly scalable, allowing cost-effective, large-scale deployment of these revolutionary materials. MOFs are highly porous materials that can store, separate and capture specific gases. They have a range of high-value applications, including natural gas storage in vehicles, carbon capture, catalysis and drug delivery. For more information, please visit the website at www.moftechnologies.com
François Martelet, CEO
Peter Thoms, CFO
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