London, UK – May 6, 2022 – NetScientific PLC (AIM:NSCI) today announced it is reacquiring a 30% stake in Vortex Biotech Holdings, an Anglo-American technology group specialising in the capture and analysis of circulating tumour cells (CTCs). This non-cash transaction reverses a previous forced sale of NetScientific’s holding in 2019 under prior management.
Vortex Biotech focuses on providing crucial insights into cancer development and guiding treatments by analysing CTCs found in the bloodstream of cancer patients. Since its spin-out from UCLA, Vortex has benefited from $38.5 million in historical investment and has made significant commercial and operational progress, which NetScientific believes has “materially de-risked” the business. With Vortex operating in the rapidly expanding oncology research and liquid biopsy markets, similar to AIM-listed ANGLE, NetScientific’s board sees “substantial upside potential.” Their growth strategy for Vortex will focus on product and cartridge sales, launching a services lab business, and exploring broader liquid biopsy opportunities. The consideration for the acquisition involves the transfer of £300,000 of invoices, extinguishing previous obligations and loans owed by Vortex US to EMV Capital and Deeptech, both now part of NetScientific. The board expressed its delight at being in a position to re-acquire an interest in Vortex, highlighting its strong growth prospects.
