TIDMNSCI
NetScientific PLC
26 November 2021
NetScientific plc
("NetScientific", the "Group" or the "Company")
$1million investment in portfolio company, EpiBone
London, UK - 26 November 2021 - NetScientific plc (AIM: NSCI),
the international life sciences and sustainability technology
investment and commercialisation Group, announces that it has
arranged an investment of a further $1 million (c. GBP0.750
million) into its Lifesciences' portfolio company, EpiBone Inc.
("Epibone"), a revolutionary regenerative medicine company focused
on bone and cartilage reconstruction based in the US. The $1m
investment amount is part of an overall $11m close alongside Boston
based investors, and notable family offices.
In line with NetScientific's capital-light investment approach,
the investment comprises of $734k from NetScientific's balance
sheet and $266k in advised funds from Group's corporate finance and
venture capital subsidiary EMV Capital Ltd ("EMVC"). It follows
NetScientific's conversion of $250k CLA and interest into equity in
January 2020 (resulting in 0.82% of the company on a fully diluted
basis).The funding will take EpiBone through to a scale-up round
expected in late 2022, and enable the company to accelerate
development of its pipeline.
The company's proprietary bioreactor technology is the product
of 20 years of fundamental research and experience with orthopaedic
tissue engineering, resulting in a three-step process to regenerate
human bone. Its lead bone product (EB-CMF), a potential treatment
for ramus continuity defects in the mandible, is now in Phase 1
human trials. The first step involves a CT scan to determine the
exact 3D size and shape of the bone needed for the defect being
treated, together with extraction of adult stem cells. The second
stage involves the creation of a precise, personalized scaffold of
the required bone, and the design and construction of a custom
bioreactor that will incubate the new bone as it grows. The final
stage involves infusion of the stem cells into the scaffold, and
growth inside the bioreactor where they are remodelled into a
personalized bone graft ready for implantation.
In 2019, EpiBone announced that the US Food and Drug
Administration (FDA) had granted its Investigational New Drug (IND)
clearance to proceed with a Phase 1/2 clinical trial of its lead
bone product, EB-CMF, as a potential treatment for ramus continuity
defects in the mandible. The company received further grants, and
in November 2020, Prof. Robert S. Langer Sc.D., co-founder of
Moderna, was appointed to EpiBone's Board of Directors.
The investment is in line with NetScientific's Trans-Atlantic
strategy, supporting its portfolio companies to build a presence
and links on both sides of the Atlantic. Post-investment,
NetScientific is looking to support EpiBone in building a presence
in the UK and Europe.
Commenting on the investment, Nina Tandon, CEO of EpiBone said,
"We welcome NetScientific's participation in this round, providing
not only investment, but also value added skills and channels for
EpiBone to grow internationally."
Dr. Ilian Iliev, CEO of NetScientific commented: "We see EpiBone
as an emerging leader in the regenerative medicine space, which is
now coming of age. Its platform technology has the potential to
transform the bone and cartilage space by making implants from
patients' own cells across multiple applications. This is another
example of NetScientific's judicious investment approach to build
stakes in businesses, and supporting its Trans-Atlantic model, as
it accelerates the portfolio company growth to deliver superior
investment returns."
John Clarkson, Chairman of NetScientific commented: "In a
planned visit to Epibone's facilities, (just before the pandemic
struck last year) I was impressed by their technology, development,
team, and plans. Since then, we have built a good relationship with
the company, and have been encouraged by their excellent progress
and performance. As we continue to implement our stated strategy,
this is reinforces our "Transatlantic Bridges" programme, not only
through the investment, but significantly also now working together
to develop and expand Epibone's business here in the UK and
Europe."
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Nick Rome/ Paul McManus/ 07748 325 236, 07980 541 893
Nicholas Johnson or 07884 664 686
About NetScientific
https://netscientific.net/
NetScientific plc (AIM: NSCI) is a holding company, that invests
in, develops, commercialises and realises shareholder value in life
sciences/healthcare, sustainability and technology companies, which
offer significant growth potential predominately in the UK and USA,
as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: netscientific.net ).
About EMV Capital
emvcapital.com
EMV Capital Ltd is a London based award winning investor focused
on B2B companies in the healthcare, sustainability and industrial
sectors. It is a subsidiary of AIM-listed NetScientific PLC. EMVC's
investments in UK, US and Israel cover a range of technologies
including robotics and AI, advanced engineering, power electronics
and Medtech. EMVC's model is to develop customized investment
strategies for its portfolio companies, combining its network of
private investors, institutional VCs investors and Corporate VC
funds.
About EpiBone
https://www.epibone.com/
EpiBone, Inc. is privately-held regenerative medicine company
focused on skeletal reconstruction. Sitting at the intersection of
biology and engineering, the company harnesses the power of a
patient's own cells to create living solutions that become a
seamless part of a patient's body. EpiBone is currently developing
a pipeline of bone, cartilage, and compound (bone and cartilage)
products.
EpiBone was co-founded in 2013 by CEO Nina Tandon, Sarindr
Bhumiratana, and Gordana Vunjak-Novakovic. The company received
initial funding in 2014 from the Partnership Fund for New York
City, and Peter Thiel's Fund, Breakout Labs.
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