Oxford Technology will host presentations from three companies seeking EIS investment on the 3rd of December. At 10am on first Thursday of every month Oxford Technology’s existing investees pitch for additional investment over Zoom. Oxford Technology would like to welcome IFA Magazine’s readers to attend at 10am on the 3rd of December 2020.
Please email Rachel@oxfortechnology.com if you would like an invitation.
Last month Oxford Technology saw presentations from five companies, heres a detailed analysis of what they were:
Active Needle
Working with leading doctors, Active Needle uses ultrasound passed through a needle to improve injections, biopsies and tattoos. Biopsies and injections are made more accurate thanks to the greatly increased visibility of the needle on the ultrasound imaging, and because the needle penetrates easily it is therefore straighter when ultrasound is applied. Remarkably, biopsies currently miss their targets in up to 20% of cases. The benefit of easier penetration and reduced force also applies to tattooing – which is a $1bn market. Their biopsy device is in the final throws of obtaining a CE mark and sales are expected next year. Finally, working with Glaxo and AstraZeneca, Active Needle is developing a device for accurate dosing and injection of drugs in preclinical testing.
Molecular Warehouse
Molecular Warehouse develops diagnostics for a wide range of biomarkers, that are as easy to use as blood glucose meters, so are ideal for distributed use either at point of care or at home. This is achieved by adding biological switches to the glucose enzymes which are triggered by the presence of the specific analyte of interest. Applications are medical but also agricultural (shorter time to market). Both Australia and California’s wine growers have suffered due to smoke damage from forest fires. Being able to identify which grapes are damaged and which are not is essential. Molecular Warehouse can leverage existing manufacturing capability to keep manufacturing cost very low. Molecular Warehouse sought £250k to develop the technology further and support the launch of its first 4 tests.
Curileum
Curileum sought a minimum of £200k and more if possible to finish the chemical analysis of the now-isolated active component of a Traditional Chinese Medicine, which reduces the rate of polyp formation (the first stage of bowel cancer). The plan is to file a composition of matter patent, to conduct a 4 week trial in mice to show the effect using only the active ingredient, and, all being well, to open licensing negotiations with several large pharma companies who have said they are interested as soon as there is in vivo data. If all this works, the ask will be for £5m up front followed by downstream payments of c. £250m. So, although substantial technical risks remain, the upside is also substantial. This is potentially a medicine which would be taken by millions of people every day for years (a bit like statins).
Spendology
Spendology is one of those rare businesses likely to experience a considerable upside as the UK recovers from the Coronavirus pandemic. Brits love to travel and spend an astonishing £47bn each year overseas – with £27bn exchanged in the UK before they travel. With the pandemic driving customers away from the High Street and with increasing confidence in ecommerce, travellers will be more likely than ever to order their travel cash online.
Spendology Cloud allows the travel industry to take on the supermarkets, Post Office and specialist Bureaux de Change with a white label travel cash add-on that can be integrated with holiday user journeys to create additional passenger revenues and profit. Spendology has already signed up Thomas Cook, Kuoni and Barrhead Travel, is a preferred supplier to EasyJet Holidays, and is engaged with TUI, OnTheBeach, Saga, ABTA and many other travel-related businesses. Spendology is raising £700k – with a pre-money valuation of £1.1m and £575k already committed – to provide a runway towards travel industry recovery and future growth.
Process Vision
Process Vision now has several of its LineVu systems being tested in gas pipelines, both in the UK and North America. These enable pipeline operators, including National Grid in the UK to see contamination events, when unwanted liquids or solids enter their gas network from suppliers. When contaminants are not detected, flow meters significantly over-read ($0.5M to $1M$/year) and damage can be catastrophic, on occasion leading to pipeline rupture or explosions at compressor stations and gas turbine power stations. Process Vision has received expressions of interest to install some 1,500 LineVu systems from 6 Energy companies, in the UK, Canada, The Middle East, and Australia. Covid has caused delays, and EIS capital was sought at the reduced share price of £2 per share to bridge the gap to breakeven. The systems will be installed on an ongoing fee per month basis.
As you can see Oxford Technology has a fascinating range of EIS investments for IFA Magazine readers.
Please email Rachel@oxfortechnology.com if you would like an invitation.
