HYGROVEST LIMITED (HGV, was previously MMJ) has also invested (August 2021) in pre listing like JTL. HGV provide much more detail on Brainworks and their proposed listing.
“ Brainworks is an integrated digital health and pathology company operating in the United States. Medio Labs is a commercial laboratory testing service operated by Brainworks. Medio Labs has designed a best in-breed, highly scalable polymerase chain reaction (“PCR”) testing process, using DNA barcoding, which significantly reduces the cost and turnaround time of next-generation gene-sequencer analysis for COVID19 samples. This testing process was first deployed for COVID-19 PCR testing in October 2020 after receiving an Emergency Use Approval from the U.S. FDA.
Brainworks will use the proceeds from the offer to establish their first larger-scale gene sequencing pathology lab in Alameda, California. This will allow Brainworks to service up to 150 markets across the US and provide end-to-end gold-standard PCR COVID testing in under 24 hours. Results will be delivered via the secure Brainworks digital health platform.”
The investment was part of pre-IPO equity financing with anticipated lasting mid 2022.
In recent discussions with HGV they appear confident on the BrainWorks outcome.
What would be nice to understand would this listing likely result in in-specie BrainwWorks share distribution being given to existing JTL shareholders, if so this would be a massive return for us.
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