TIDMNSCI
RNS Number : 9644G
NetScientific PLC
30 November 2020
NetScientific plc
("NetScientific" or the "Company")
NetScientific's EMV Capital Ltd leads a GBP1.28m pre-Series A
round in SageTech Medical Equipment Ltd to commercialise its
anaesthetic gas recycling technology platform
London, UK - 30 November 2020 - NetScientific plc (AIM: NSCI),
the life sciences, technology, investment and commercialisation
Group, announces that its subsidiary EMV Capital Ltd ("EMVC") led a
GBP1.28m pre-series A round in Devon-based anaesthetic gas capture
and recycling technology platform company, SageTech Medical
Equipment Ltd ("SageTech"), investing alongside existing investors.
We are also pleased to announce that John Clarkson, Chairman of
NetScientific Plc, will join the Board of SageTech.
EMV Capital's investment comes from its EIS investment practice,
including support from its extensive network of private investors,
and the EMVC EIS Fund. This transaction increases assets under
advisory by EMV Capital by a further GBP1.06m
SageTech has developed a waste management solution in human and
veterinary healthcare using patented technology to capture used
anaesthetic gas, to provide greater flexibility for hospitals and
to reduce harmful greenhouse gas emissions. SageTech's offering can
help to increase hospital ICU and operating theatre capacity, by
installing SageTech's flexible, low-capex and modular system, to
allow the delivery of anaesthetic gas to more patients.
John Clarkson (Chairman of NetScientific Plc, EMV Capital's
parent company) will be joining the board of SageTech, bringing his
wealth of commercial expertise to the next stage of the company's
growth. John Clarkson commented, "In line with NetScientific's
strategy of engagement and support for its portfolio companies, I'm
delighted to be joining the board of this exciting growth company.
SageTech is entering a new phase of scale-up and commercialisation.
The company's technology addresses a key environmental concern for
the industry and affords much needed flexibility to the UK
healthcare system and beyond. I look forward to providing support
to SageTech and helping the company realise its significant
potential".
SageTech CEO, Iain Menneer, said of the investment "We welcome
the investment from EMV Capital. In addition to the growth capital,
we expect EMVC and John will contribute to the final stage of our
hospital trials and preparation of our go-to-market plans for
launch of our solution in 2021. SageTech Medical has achieved a
tremendous amount in its short life and has a very bright future,
supported by this fresh investment. It is very exciting to be in a
position to offer improved operational capability to hospitals
whilst solving a significant but little-known problem that waste
anaesthetics present to the environment."
SageTech plans to use this funding to complete pilots underway
within UK hospitals, to scale up commercial operations to meet
demonstrated demand for their technology platform in the UK and
internationally, and to further development towards market
authorisation for their recycled anaesthetic product.
The full details of the announcement are set out below.
# # #
SageTech Medical Equipment Ltd secures GBP1.28m in a pre-series
A round led by EMV Capital Ltd to commercialise its anaesthetic gas
recycling technology platform
30 November 2020, London
EMV Capital led a GBP1.28m pre-series A round in Devon-based
anaesthetic gas capture and recycling technology platform company,
SageTech Medical Equipment Ltd ("SageTech"), investing alongside
existing investors.
SageTech has developed a waste management solution in human and
veterinary healthcare using patented technology to capture used
anaesthetic gas, to provide greater flexibility for hospitals and
to reduce harmful greenhouse gas emissions. SageTech's offering can
help to increase hospital ICU and operating theatre capacity, by
installing SageTech's flexible, low-capex and modular system, to
allow the delivery of anaesthetic gas to more patients.
EMV Capital's investment comes from its EIS investment practice,
including support from its extensive network of private investors,
and the EMVC EIS Fund.
On behalf of EMVC investors, John Clarkson (Chairman of
NetScientific Plc, EMV Capital's parent company) will be joining
the board of SageTech, bringing his wealth of commercial expertise
to the next stage of the company's growth.
John Clarkson (Chairman of NetScientific Plc, EMV Capital's
parent company) will be joining the board of SageTech, bringing his
wealth of commercial expertise to the next stage of the company's
growth. John Clarkson commented, "In line with NetScientific's
strategy of engagement and support for its portfolio companies, I'm
delighted to be joining the board of this exciting growth company.
SageTech is entering a new phase of scale-up and commercialisation.
The company's technology addresses a key environmental concern for
the industry and affords much needed flexibility to the UK
healthcare system and beyond. I look forward to providing support
to SageTech and helping the company realise its significant
potential".
SageTech CEO, Iain Menneer, said of the investment "We welcome
the investment from EMV Capital. In addition to the growth capital,
we expect EMVC and John will contribute to the final stage of our
hospital trials and preparation of our go-to-market plans for
launch of our solution in 2021. SageTech Medical has achieved a
tremendous amount in its short life and has a very bright future,
supported by this fresh investment. It is very exciting to be in a
position to offer improved operational capability to hospitals
whilst solving a significant but little-known problem that waste
anaesthetics present to the environment."
SageTech plans to use this funding to complete pilots underway
within UK hospitals, to scale up commercial operations to meet
demonstrated demand for their technology platform in the UK and
internationally, and to further development towards market
authorisation for their recycled anaesthetic product.
About SageTech Medical Equipment
www.sagetechmedical.com
SageTech Medical Equipment Ltd specialises in the development
and commercialisation of patented technology to reduce the
environmental and financial costs associated with anaesthesia. The
technology is internationally scalable and provides significant
flexibility and scalable advantages to healthcare. SageTech's
solution offers large financial savings on hospital infrastructure
installations and maintenance costs in time eliminating the need
for expensive air extraction systems to take the exhaled drugs from
the operating theatres to the chimney.
SageTech Medical has attracted interest and enquiries from
clinicians in the UK, Europe, America, Australia and Scandinavia,
all driven to reduce environmental damage, increase efficiency and
reduce costs.
About EMV Capital
www.emvcapital.com
EMV Capital Ltd ("EMVC"), a wholly owned subsidiary of
NetScientific Plc, is a London-based investment services company
focused on B2B companies in industrial high-tech, energy and
healthcare. EMVC's multidisciplinary team has expertise in venture
investment, corporate development, corporate finance and M&A.
EMVC understands the importance and value of environmental
sustainability and ethical investment principles, reflecting this
within its investment thesis.
EMV Capital has a growing EIS investment practice, and is an
exclusive advisor to the EMVC Evergreen EIS Fund
(http://emvcapital.com/eis_fund/)
EMV Capital Limited is an appointed representative of Sapphire
Capital Limited, which is authorised and regulated by the Financial
Conduct Authority.
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific
Ilian Iliev, CEO Tel: +44 (0)20 3514 1800
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel Tel: +44 (0)20 7220 1666
About NetScientific
NetScientific is a life sciences, technology, investment and
commercialisation Group, leveraging trans-Atlantic relationships
and global opportunities to deliver shareholder value.
For more information, please visit the website at www.NetScientific.net
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