netscientific
  • ABOUT US
  • TEAM
    • CAREERS
  • PORTFOLIO
  • INVESTORS
    • RNS & RNS REACH
    • FINANCIAL RESULTS
    • CORPORATE GOVERNANCE
  • NEWS
    • RESEARCH REPORTS
  • 2022 AGM NOTICE
  • CONTACT US
netscientific
netscientific
  • ABOUT US
  • TEAM
    • CAREERS
  • PORTFOLIO
  • INVESTORS
    • RNS & RNS REACH
    • FINANCIAL RESULTS
    • CORPORATE GOVERNANCE
  • NEWS
    • RESEARCH REPORTS
  • 2022 AGM NOTICE
  • CONTACT US

NetScientific Invests in Breakout Labs Companies

Jul 23, 2014
-
News, PDS Biotechnology
RNS Number : 0808N
NetScientific PLC
23 July 2014

 

 

23 July 2014

 

NetScientific invests in a further two Breakout Labs portfolio companies

 

 

NetScientific plc (AIM:NSCI, ‘NetScientific’ or ‘The Group’), the biomedical and healthcare technology investment group, is pleased to announce it has made a further two investments in portfolio companies from Breakout Labs, Peter Thiel’s revolving philanthropic fund that supports early-stage companies working on technological breakthroughs.

 

G-Tech Medical is developing a wireless, wearable, disposable patch, which will help diagnose the root causes of Functional Gastrointestinal Disorders (‘FGIDs’).  FGIDs afflict more than 60 million people annually in the US, and are a large burden to the health care system.  The G-Tech patch will measure and characterize the activity of the main digestive organs under normal daily conditions to help pinpoint the source of the dysfunction.  It will allow physicians to quickly determine that a functional problem exists, in many cases allowing them to skip the current invasive, expensive anatomic testing sequence.  By identifying the specific source and nature of the dysfunction it will enable them to more effectively target their therapies, bringing relief to patients faster and at lower cost.

 

Longevity Biotech is developing an entirely new approach to therapeutics development via artificial protein technology (“Hybridtides”). Hybridtides® are peptide molecules that contain both α- and β-amino acid subunits, which makes them resistant to breakdown by natural digestive enzymes, tunable to very stable conformations, and able to mimic information-rich surfaces displayed by natural proteins or peptides, enabling new drug designs which are more stable and more clinically active. Current work will establish the platform’s potential in a clinically important indication in cardiovascular disease, pulmonary arterial hypertension.

 

The new investments represent the first outside financing for both G-Tech and Longevity Biotech.

 

 

Farad Azima, CEO of NetScientific commented:

 

“We are delighted to continue working with Breakout Labs in their quest to identify and foster revolutionary life science companies at the forefront of scientific innovation.  Longevity Biotech and G-Tech Medical are two such examples of innovative technologies in areas of clinical importance which will transform the lives of patients.”

 

 

For further information, please contact:

 

  Liberum (Nomad & Broker)

  Chris Bowman/Christopher Britton/Thomas Bective

Tel: 020 3100 2000

  Bell Pottinger

  Daniel de Belder/Kashara Taylor

Tel: 020 7861 3232

 

Company website:www.netscientific.net

 

ABOUT NETSCIENTIFIC

NetScientific is a healthcare and life sciences company with global reach that funds and develops technologies that offer transformative benefits to peoples’ lives and society through improved diagnosis, prognosis and treatment.

 

 

ABOUT BREAKOUT LABS

Breakout Labs, a program of the Thiel Foundation, is reshaping the way early-stage science and technology companies are funded. Founded in November 2011, Breakout Labs has supported 19 companies in areas ranging from food science and biomedicine to clean energy. For many of these companies, Breakout Labs was the first external investor. Breakout Labs provides up to $350,000 for companies to achieve specific milestones that are critical to their development. In addition to funding, Breakout Labs companies benefit directly from a program of mentorship and networking, with access to the Thiel Foundation’s large community of investors, innovators, and entrepreneurs. Successful grantees return a capped royalty stream and a small percentage of equity in their company to Breakout Labs and thereby contribute to the next generation of scientific innovation. For more information, www.BreakoutLabs.org.

 

 

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

END

MSCDXLBLZDFLBBQ

Share on FacebookShare on TwitterShare on Linkedin
← PREVIOUS POST
NetScientific announces shareholder name change
NEXT POST →
TR1 - Notification of Major Interest in Shares

 

NetScientific plc

Level 39,
One Canada Square,
London, E14 5AB

Tel: +44 20 3514 1800
www.netscientific.net
info@netscientific.net

  • RNS & RNS Reach
  • Financial Results
  • Financial Calendar
  • Corporate Governance
  • News
  • Historic Material
Copyright
Terms of Use
NetScientific Invests in Breakout Labs Companies - NetScientific
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsAccept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT