REG-Limitless Earth Plc: Investment in Medical Diagnostics <Origin Href="QuoteRef">LMEL.L</Origin>

Limitless EarthAnnouncement

08/10/2015 07:00

8 October 2015

                              LIMITLESS EARTH PLC                              

                        ("Limitless" or the "Company")                         

                       Investment in Medical Diagnostics                       

Limitless, an investing company that focuses on making investments in a
portfolio of companies whose growth and success is linked to the world's
changing demographic situation, is pleased to announce that it has invested
US$500,000, by way of convertible preference stock, in Chronix Biomedical Inc.
("Chronix").

Chronix Biomedical Inc.

Chronix, founded in 1997 and based in San Jose, California, is a private
molecular diagnostics company which is developing blood tests that can be used
for applications including cancer detection and organ transplantation.  Chronix
has discovered multi-cancer biomarkers that relate to the earliest events in
genomic instability and appear to be present in most major cancers regardless
of the cell of origin. It is the opinion of Chronix that these biomarkers have
the potential to form the basis for accurate, comprehensive and cost-effective
tests for early, cell-free and personalised cancer detection.  Chronix has been
granted two patents, on the detection of cell-free nucleic acids (DNA and RNA),
and has applied for a further five patents, relating to next-generation
sequencing technology and droplet digital polymerase chain reaction (PCR) for
the detection of all cancers as well as organ transplant rejection, in multiple
jurisdictions.

Chronix has recently launched its first two products, the Second Opinion™
prostate and breast cancer supplemental tests in the UK and EU which are
provided through its certified laboratory in Göttingen, Germany. The intention
of Second Opinion™ is to provide clinicians with a secondary decision support
test to reduce the need for unnecessary biopsies as a result of the
false-positive results produced by PSA testing. The US National Cancer
Institute estimates the false-positive results for prostate cancer and
mammograms for breast cancer to be 75% and 50% respectively.

To date, Chronix has raised US$33.7 million through a series of investment
rounds to develop its portfolio of tests and patents.  It has raised a further
US$2.0 million in this round to, inter alia, conduct health economics trials
for reimbursement appraisal and to market the Second Opinion™ tests in the UK,
EU and US markets.

Investment Terms

Limitless has invested US$500,000 (approximately £329,000) in the series I
round of convertible preference stock ("Series I Stock") at a price of US$0.40
per share. On a fully diluted basis, considering all classes of common and
preference stock in issue, Limitless' investment represents 0.72% per cent. of
Chronix's issued share capital and values Chronix at approximately US$69
million.

The Series I Stock holders are granted equal voting rights with all other
classes of stock, except as provided by law, and conversion into common stock
is at the option of the holder. Series I Stock will automatically convert into
common stock in the event of common stock being made available for trading on
any stock exchange in the United States, Canada or United Kingdom.

In preference to all other classes of stock, the holders of Series I Stock are,
subject to certain conditions, entitled to, inter alia, receive noncumulative
dividends, liquidation preference, pre-emptive rights in the event of further
stock issues and the rights of first refusal in the event of a sale by a holder
of Series I Stock.

Guido Contesso, Director of Limitless, commented:

"Having looked at a number of opportunities in the life sciences sector,
Chronix marks the first investment for Limitless. The importance of early stage
cancer diagnosis and treatment cannot be stressed more highly. Chronix's
products not only have the potential to save thousands of lives by early cancer
detection but also to save substantial sums for national healthcare providers
who can, in turn, better allocate their resources and these funds to the areas
that need them the most.  We also believe in the ability of the Chronix
management team, which has an impressive track record in the field, to deliver
its products and business plan. As such, we are excited to be part of this
potentially ground breaking business."

For further information, please contact:

Limitless Earth plc                                +44 7780 700 091                   
                                                                                      
Guido Contesso                                     www.limitlessearthplc.com          
                                                                                      
Cairn Financial Advisers LLP                       +44 20 7148 7900                   
                                                                                      
Nominated Adviser                                  www.cairnfin.com                   
                                                                                      
Jo Turner/Tony                                                                        
Rawlinson                                                                             
                                                                                      
Peterhouse Corporate Finance Limited               +44 20 7469 0930                   
                                                                                      
Broker                                             www.pcorpfin.com                   
                                                                                      
Peter Greensmith/Charles                                                              
Goodfellow                                                                            

About Limitless Earth plc

Limitless Earth plc is a proactive investing company that focuses on making
investments in and assisting companies which exhibit the potential to generate
returns through capital appreciation. As at 31 January 2015, Limitless had cash
reserves of approximately £2.7 million. Limitless invests in small companies
where there are clear catalysts for value appreciation and the companies are
operating in sectors exhibiting long term growth linked to demographic change. 
Examples of such sectors include cleantech, life sciences, nanotech, medtech,
recycling, and new internet opportunities.



END



Copyright © 2015 PR Newswire Association, LLC. All Rights Reserved