REG - Braveheart Inv Group - Investment update - Kirkstall and Paraytec

Braveheart InvestmentAnnouncement

24/07/2024 07:00

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RNS Number : 5478X  Braveheart Investment Group plc  24 July 2024

24 July 2024

 

Braveheart Investment Group Plc

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

 

Investment update - Kirkstall and Paraytec

 

Braveheart Investment Group (AIM: BRH), announces an update on two companies
within its investment portfolio, Kirkstall Limited ("Kirkstall") and Paraytec
Limited ("Paraytec").

 

Kirkstall (Braveheart owns 86.11% of the company)

Kirkstall operates in the market known as 'organ-on-a-chip', where it has
developed Quasi Vivo®, a system of chambers for cell and tissue culture in
laboratories. Its patented technology is used by researchers in the growing
New Approach Methodologies ("NAMs"), which enable human-relevant drug safety
decisions to be made without the need for animal testing.

Kirkstall has appointed a new distributor, Beijing Kilby Biotechnology Co. Ltd
("BKB") for China. The agreement is exclusive and covers distribution within
China for all Quasi Vivo® products. BKB will execute a sales and marketing
campaign over the next 18 months with the objective of achieving sales
throughout the country.

Ansen Pan, CEO of BKB said, "The 3D cell culture and organ-on-chip related
products are currently an open opportunity in the Chinese market. In January
2024, the National Institutes for Food and Drug Control (NIFDC) issued guiding
principles, which for the first time included three-dimensional tissue models
and organ-on-chip technology in the non-clinical research guidelines for human
derived stem cell products, making it an important technical means for
evaluating the non-clinical efficacy and safety of drugs.

"We are deeply honoured to collaborate with Kirkstall and promote their
excellent technology. Kirkstall has been widely recognized by academic, CRO
and industrial customers globally with Quasi Vivo® demonstrating excellent
product performance for predictive, physiological, and animal-free in vitro
models."

 

Paraytec (Braveheart owns 100% of the company)

Paraytec develops high performance specialist detectors for the analytical and
life sciences instrumentation markets.

As previously reported, Paraytec has confirmed that its CX300 instrument can
detect and discriminate gram-positive and gram-negative bacteria in a sample
from human blood in approximately 90 minutes, which is significantly faster
than the current gram test which takes between 24 and 48 hours.

Paraytec has now filed a UK patent application (number 2410763.3) for this
method, allowing gram-positive and gram-negative bacteria to be distinguished
in a biological fluid sample. The patent covers the analytical method and is
primarily intended for use with Paraytec's CX300 instrument. In addition, the
method described in the patent application is potentially applicable for use
in equipment already produced by other manufacturers. This could provide
Paraytec with a future royalty income through licencing out this technology
within the medical and life science industries.

 

 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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