NetScientific PLC Glycotest Update (0830J)
June 26 2017 - 1:00AM
UK Regulatory
TIDMNSCI
RNS Number : 0830J
NetScientific PLC
26 June 2017
NetScientific plc
("NetScientific" or the "Company" or the "Group")
Glycotest Update
London, UK - June 26(th) 2017 - NetScientific plc
("NetScientific", AIM:NSCI), the transatlantic IP commercialisation
group focused on healthcare, provides an update on the series A
fundraising being undertaken by its portfolio company Glycotest, a
US-based diagnostics company, as outlined in the Circular issued to
shareholders following the Company's placing and subscription of
new shares on 26 May 2017 (the "Circular").
The Company continues to anticipate closing the Series A round
within the second half of 2017, but does not now expect to sign the
relevant documentation by the end of June 2017, as was previously
stated as the Company's aim in the Circular.
As at 31 December 2016 the NetScientific had invested GBP2.4
million in Glycotest. The Company expects that the delay will lead
to an increase in its GBP0.5m expected spend in Glycotest in 2017,
as stated in the Circular, but with overall spend remaining under
GBP1.0m in 2017.
# # #
For more information, please contact:
NetScientific Tel: +44 (0)20 3514 1800
François R. Martelet,
M.D., CEO
Ian Postlethwaite,
CFO
Consilium Strategic
Communications Tel: +44 (0)20 3709 5700
Mary-Jane Elliott / netscientific@consilium-comms.com
Jessica Hodgson /
Chris Welsh / Laura
Thornton
Stifel Nicolaus Europe Tel: +44 (0) 20 7710 7600
Limited (NOMAD and Broker)
Jonathan Senior / David
Arch / Ben Maddison
About NetScientific
NetScientific is an IP commercialisation group focused on
healthcare with an investment strategy focused on sourcing, funding
and commercialising technologies that significantly improve the
health and well-being of people with chronic diseases. For more
information, please visit the website at www.netscientific.net
About Glycotest
Glycotest is a US based diagnostics company, developing
biomarkers for clinical laboratory
services used in the diagnosis of liver cancers and
fibrosis-cirrhosis, which the Directors
believe represents a $1 billion market opportunity. Its
blood-based biomarkers take advantage
of sugar-related disease signals and the company has issued
patents to over 50 serum proteins
with sugar structures that are altered in liver disease. The
biomarkers are being developed into
tests and test panels intended for the surveillance of patients
with serious liver disease.
This information is provided by RNS
The company news service from the London Stock Exchange
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