Braveheart Investment Group plc Further investment in Phasefocus Holdings Limited (8466J)

TIDMBRH

RNS Number : 8466J

Braveheart Investment Group plc

21 August 2023

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

Further investment in Phasefocus Holdings Limited

Braveheart Investment Group (AIM: BRH), is pleased to announce a further investment into Phasefocus Holdings Limited ("Phasefocus"). The Company has purchased 18,750 new ordinary shares of one pence each in Phasefocus at a price of GBP8 per share for a total consideration of GBP150,000, taking Braveheart's total interest to 48.3 per cent. of the issued share capital of Phasefocus.

Phasefocus' imaging and analysis system, Livecyte(R), uses a novel patented method for high fidelity quantitative imaging and microscopy; this is known in the scientific literature as 'ptychography'.

As announced on 31 May 2023, Phasefocus has gained substantial momentum during the year and its work, in particular with distributors in Japan, China and the USA, has built a strong pipeline of business opportunities. Phasefocus has received a number of orders for its Livecyte(R) system, which are scheduled to be delivered before the end of 2023.

On 14 August 2023, Phasefocus announced the launch of its revolutionary new T-Cell Killing Assay for the Livecyte(R) cell imaging platform https://www.phasefocus.com/about/news-events/news/t-cell-assay-announcement . The new assay quantifies interactions between immune cells and cancer cells, addressing a major unmet need for researchers developing the latest novel cancer therapies. In the assay, the characteristics of T cell interactions in the period immediately preceding target cell death, can be measured independently from cytotoxicity. Livecyte's T-Cell Killing Assay offers unparalleled insights at the single-cell level, empowering researchers to unlock new frontiers in cancer therapy development and evaluation.

This investment by Braveheart will provide Phasefocus with the working capital to market its new T-Cell Killing Assay and build Livecyte(R) stock, in preparation for further anticipated orders, and follows a GBP134,000 investment by the Company into Phasefocus in January 2023.

In the year ended 31 December 2022, Phasefocus incurred a loss before taxation of GBP990,854. The book value of Braveheart's investment in Phasefocus at 31 March 2023 (prior to this investment) was GBP2.5 million.

Trevor Brown, Chief Executive Officer of Braveheart, commented:

"Phasefocus is making impressive progress on sales and innovation making the decision to increase our investment an easy one. The potential realization value of our interest also continues to grow, reflecting these advances."

For further information:

 
 
 Braveheart Investment Group plc         Tel: 01738 
                                          587555 
 Trevor Brown, Chief Executive Officer 
  Viv Hallam, Executive Director 
 
 Allenby Capital Limited (Nominated      Tel: 020 
  Adviser and Joint Broker)               3328 5656 
 James Reeve / George Payne 
 
 Peterhouse Capital Limited (Joint       Tel: 020 
  Broker)                                 7469 0936 
 Duncan Vasey / Lucy Williams

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August 21, 2023 02:00 ET (06:00 GMT)

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