REG - Braveheart Inv Group - Investment update - Paraytec Limited

Braveheart InvestmentAnnouncement

29/11/2023 07:00

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RNS Number : 9734U  Braveheart Investment Group plc  29 November 2023

29 November 2023

 

Braveheart Investment Group plc

("Braveheart" or the "Company")

 

Investment update - Paraytec Limited

 

Braveheart Investment Group (AIM: BRH), provides the following update on
Paraytec Limited ("Paraytec"), a company within its investment portfolio.
Paraytec develops high performance specialist detectors for the analytical and
life sciences instrumentation markets.

 

Paraytec has informed Braveheart that it has secured its first commercial
sales contract for the CX300 Optical Particle detector instrument (the "CX300
instrument"), to Nottingham Trent University ("NTU").  The instrument will be
installed in the "EX-Cell group" at NTU, led by Prof Elisabetta Verderio
Edwards, who's work focuses on the role of extracellular factors in cell
survival in conditions of neurodegeneration and tissue repair. The CX300
instrument will be used to further their Alzheimer's, Dementia and Parkinson's
research at NTU.

 

The Directors of Paraytec believe that this sale of the CX300 instrument could
be the first of many to UK and European research laboratories.

 

Trevor Brown, CEO of Braveheart, commented:

"This sales contract with NTU is the first commercial sale of the CX300
instrument by Paraytec, justifying our investment in the company and its
development in the CX300 instrument, as well as Paraytec's continuing
commitment to innovation."

 

Braveheart holds a 100% equity interest in Paraytec. In addition, Braveheart
has provided unsecured interest free loans to Paraytec totalling £1,155,200
as at 31 March 2023.

 

For further information:

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown CEO

 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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