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Nalia
Jul 22, 2016 7:32:34 GMT
Post by Deleted on Jul 22, 2016 7:32:34 GMT
Sounds like a good product concept, good researchers, with cost and timing as a driver. Slightly worried that they are already planning another round. Any thoughts?
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Nalia
Jul 22, 2016 9:57:44 GMT
Post by bigfoot12 on Jul 22, 2016 9:57:44 GMT
Sounds like a good product concept, good researchers, with cost and timing as a driver. Slightly worried that they are already planning another round. Any thoughts? I think that they are planning for the next round is good. My limited amateur experience is that this sort of company will need much more money than they claim at this point. The product will take longer to develop and sales will take even longer. You should probably assume that you will need to make several more investments if you want to maintain your share. I don't know this area will, but it does remind me of something similar I read about recently
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Nalia
Jul 22, 2016 10:17:13 GMT
Post by Deleted on Jul 22, 2016 10:17:13 GMT
Radio 4 had a piece today on cancer evolution, it seems that the cancers actually evolve inside the human body and inside the duration of treatment, so you can start the treatment with cancer A and end up with cancer B by the end of the treatment (pretty obvious I guess, like in a petry dish). This then requires further investigation before the next treatment. It suggests that speed of analysis is vital to stay up with the evolution.
Interestingly they are aiming for departure before they really sell units, so no sales arm required, my experience of prototyping is that it is actually pretty easy, if, (IF), you involve actual users in the design and focus on the simple. CE marking is dead easy, it just takes good design procedures, an understanding of the testing protocols and six months of someone's time. The other part I like is they are generating cash from the core technology now.
I do agree they will need more cash, I just note that (following the findings of the article I mentioned on this forum) multiple fundings reduce the chance of making x10 capital (not just by dilution) but by all the aspects of distraction on the money, new investors tinkering, any refocus of strategy and just the loss of impetus.
Thanks for your views.
Ah, I was a little mistaken
"The team plan to use their funding in two areas:
Building sales of the custom biomarker panel service (33%) Development and testing of prototypes of the point-of-care system cartridge (66%)
This would provide an approximate runway of 15-18 months. A second round of £1.5m is intended to be raised at a much higher value. The company plans to use this later, larger round to complete development, testing and CE-marking of the point-of-care system and to drive sales
There is an overfunding target of £700,000; these additional funds would be applied to further develop the cartridge prototypes and the reader device to maximise the value prior to the next round. There is a board cap on the round of £904,150."
The CE marking is for stage 2."
I've dug into the people, many are towards the ends of their careers but very much experts in their field, the COO is interim (as far as I can see) but a good reputation in this field.
website is at least informational
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Steerpike
Member of DD Central
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Nalia
Apr 29, 2019 15:16:24 GMT
Post by Steerpike on Apr 29, 2019 15:16:24 GMT
I had a very small nibble in 2016 and am now considering a bit more in the current closed round.
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