REG - Braveheart Inv Group - Further investment in Phasefocus Holdings Limited

Braveheart InvestmentAnnouncement

21/08/2023 07:00

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RNS Number : 8466J  Braveheart Investment Group plc  21 August 2023

21 August 2023

 

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

 

Further investment in Phasefocus Holdings Limited

 

Braveheart Investment Group (AIM: BRH), is pleased to announce a further
investment into Phasefocus Holdings Limited ("Phasefocus"). The Company has
purchased 18,750 new ordinary shares of one pence each in Phasefocus at a
price of £8 per share for a total consideration of £150,000, taking
Braveheart's total interest to 48.3 per cent. of the issued share capital of
Phasefocus.

 

Phasefocus' imaging and analysis system, Livecyte®, uses a novel patented
method for high fidelity quantitative imaging and microscopy; this is known in
the scientific literature as 'ptychography'.

 

As announced on 31 May 2023, Phasefocus has gained substantial momentum during
the year and its work, in particular with distributors in Japan, China and the
USA, has built a strong pipeline of business opportunities. Phasefocus has
received a number of orders for its Livecyte® system, which are scheduled to
be delivered before the end of 2023.

On 14 August 2023, Phasefocus announced the launch of its revolutionary new
T-Cell Killing Assay for the Livecyte® cell imaging platform
https://www.phasefocus.com/about/news-events/news/t-cell-assay-announcement
(https://www.phasefocus.com/about/news-events/news/t-cell-assay-announcement)
. The new assay quantifies interactions between immune cells and cancer cells,
addressing a major unmet need for researchers developing the latest novel
cancer therapies.  In the assay, the characteristics of T cell interactions
in the period immediately preceding target cell death, can be measured
independently from cytotoxicity. Livecyte's T-Cell Killing Assay offers
unparalleled insights at the single-cell level, empowering researchers to
unlock new frontiers in cancer therapy development and evaluation.

This investment by Braveheart will provide Phasefocus with the working capital
to market its new T-Cell Killing Assay and build Livecyte® stock, in
preparation for further anticipated orders, and follows a £134,000 investment
by the Company into Phasefocus in January 2023.

In the year ended 31 December 2022, Phasefocus incurred a loss before taxation
of £990,854. The book value of Braveheart's investment in Phasefocus at 31
March 2023 (prior to this investment) was £2.5 million.

 

 

Trevor Brown, Chief Executive Officer of Braveheart, commented:

 

"Phasefocus is making impressive progress on sales and innovation making the
decision to increase our investment an easy one. The potential realization
value of our interest also continues to grow, reflecting these advances."

 

For further information:

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown, Chief Executive Officer

 Viv Hallam, Executive Director

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: 020 3328 5656
 James Reeve / George Payne

 Peterhouse Capital Limited (Joint Broker)                      Tel: 020 7469 0936
 Duncan Vasey / Lucy Williams

 

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