CAMBRIDGE, England--(BUSINESS WIRE)--
NetScientific plc
('NetScientific' or 'the Company' or
‘the Group’)
Half-Yearly Report
NetScientific (AIM:NSCI), the global biomedical and healthcare technology group today announces its half yearly report for the six months ended 30 June 2014.
Highlights
- Significant progress made in advancing the technologies in two core subsidiaries, WandaHealth and Vortex Biosciences.
- New commercial partnership with Peter Thiel’s Breakout Labs which provides NetScientific with direct access to cutting-edge technologies in Silicon Valley.
- Post period end investments were made in two new later-stage companies, G-Tech Medical and Longevity Biotech.
- Strict expenditure controls and rigorous criteria for new investments resulted in higher than budget closing cash balance of £22.5 million.
Farad Azima, CEO of NetScientific, said:
“The Group has made significant progress so far this year in bringing our subsidiaries closer to achieving value inflection points which will allow a series of high performance exits. At NetScientific our view is that, science knows no borders. Therefore, we anticipate securing further additional strategic alliances, which will give us worldwide access to other transformative technologies.”
-Ends-
For more information, please visit the website at www.netscientific.net.
Copies of the unaudited interim results for the six months ended 30 June 2014 are available on the Group’s website at www.netscientific.net.
