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Quiltman

2,757 Posts.

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25/03/21

15:10

Post #: 52038856
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Originally posted by ozelectro: ↑

Huge find @Quiltman - thanks for sharing. Note this was published 22nd March so this is pretty much fresh off the press.

A few key quotes that got me a little excited, especially that last one!

CEOCFO: Is the medical community overall aware of what you developed and are they skeptical?
Mr. Joshi: I would say that the vast majority of people are not aware of the NanoDx technology. We were previously known as BioDirection, Inc. The vast majority of the world are not aware of our technology because we are not on the market as of yet. While we are inching very close to getting on the market for both traumatic brain injury and COVID as well as development in other potential clinical applications, in time, I think more and more people we become aware of our technology. However, of the physicians that are aware of NanoDx, say that if our technology can in fact do what we say it can do, and they use the word transformative, in the sense of being able to bring the identification of things like traumatic brain injury, COVID, influenza, stroke, sepsis to the market or even a full panel of testing at a point of care.

CEOCFO: Where are you in the development and commercialization process?
Mr. Joshi: At this point, a large part of our development is behind us. Now we are manufacturing and developing manufacturing processes and scaling and improving our yield for those processes. As we improve those yields, we will be able to make more and more product. While the volumes for our ailments are very high, none are more urgent and important than that of COVID these days. We have a lot of interest and we are scaling tremendous amounts of manufacturing capability with our manufacturing partners to be able to bring this technology to more and more people.

Now with COVID, the emphasis of doing testing outside of the emergency room at a point of care, urgent care facility, doctor’s office or even in the home is gaining a greater acceptance and I suspect the growth rate will increase even further. This is a really unique opportunity and I have never seen anything like it before. When it comes to COVID, we have a unique opportunity to with not only massive demand and to be able to help the world in a very significant way, we can also move things more rapidly through emergency use authorization in various countries as well as the United States. In my experience, I have never seen anything like this where medicine, technology and business conditions are aligning like starts.

CEOCFO: Are you seeking funding, partnership and investment now?
Mr. Joshi: Yes, we are. We have been very lucky to partner with some great people out there in terms of license fields to bring in non-dilutive funding to our company. We have also closed the Series C during 2020 and we also are seeking some additionally investment to really scale to a larger volume right now and we are very close to closing that so we can execute on the larger plans. Thevolumes of product that we are planning on building today are about well over a hundred times greater than the volumes we were seeking to develop and manufacture just a year ago.

Expand

And a little bit of hunting online says to me that this recently listed company, Medicus Sciences Acquisition Corp, may be providing the funding, but that is speculative :

Altium Capital and Sio Capital recently formed Medicus Sciences Acquisition Corp., a $92 million SPAC publicly traded on the Nasdaq under the symbol, MSACU, for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. While Medicus may acquire a company in any industry, its focus is on the healthcare industry, particularly the medical technology sector. In addition, Altium and Sio have entered into forward purchase agreements to invest up to $16 million in connection with an initial business combination with Medicus. Please feel free to send any ideas or introductions that you may have.

SE1 Price at posting: 6.5¢ Sentiment: Buy Disclosure: Held
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