Business Description
The Native Antigen Company is a developer and manufacturer of infectious disease reagents – native and recombinant antigens, antibodies and immunoassays for viruses and bacteria.
Rationale for Investment
Opportunity to be a leading developer, manufacturer and supplier of reagent products as well as custom and contract services to diagnostics and biopharmaceuticals customers.
Business Description
PsiOxus Therapeutics is a developer of novel therapeutics for solid tumours through its proprietary targeted oncolytic virus and tumour-specific immuno-gene therapy platform (T-SIGn).
Rationale for Investment
To be a world-leading cancer gene therapy company, developing an internal programme and entering into commercial partnerships to advance a oncolytic virus pipeline.
Business Description
OXGENE™ has leading expertise in gene therapy, gene editing and antibody discovery. Its expert teams excel in mammalian cell engineering solutions, coupled with bioinformatics and automation to build robust and efficient biotechnology solutions. OXGENE™ is a trading name of Oxford Genetics LTD
Rationale for Investment
Opportunity to accelerate the discovery, development and manufacture of new cell and gene therapies. OXGENE’s technologies and solutions aim to reduce the overall cost of goods involved in the manufacture of these new treatment types and so increase patient accessibility.
Exit – March 2021
Mercia held a 32.1% direct holding in OXGENE at the date of completion and will receive cash proceeds of £30.7million, its largest cash exit to date. The sale results in a realised gain of £14.6million above the £16.1million direct investment holding value as at 30 September 2020. The sale has generated a 5x return on Mercia’s direct investment cost of £6.1million and a 51% internal rate of return (“IRR”).
Business Description
Medherant is a developer of transdermal drug-in-adhesive patches using a novel adhesive exclusively licensed from Bostik, targeting central nervous system and pain indications.
Rationale for Investment
Building a leader in transdermal drug formulation and delivery, developing and out-licensing its own products as well as products of external partners seeking transdermal solutions.
Business Description
Eyoto designs and develops optometry diagnostics equipment that are digital and portable. Its first product is the eMap, an analyser for evidence-based lens production and dispensing.
Rationale for Investment
Building on eMap, the company has the opportunity to be a leader in optometry diagnostics equipment and software solutions to meet the needs of the global eye care market.
Business Description
Concepta plc (AIM: CPT) develops and markets a mobile diagnostic platform – myLotus – focused on women’s fertility and pregnancy using a monitor, test sticks and mobile app
Rationale for Investment
Opportunity to be a leading brand in women’s health, with myLotus as the only direct-to-consumer home monitor enabling quantitative measurement of luteinising hormone (LH) levels
Business Description
Warwick Acoustics develops, manufactures and markets a new class of electrostatic audio systems that deliver superior design and listening experiences for headphone and automotive uses.
Rationale for Investment
Building on award-winning headphones for audiophiles, to become a leading developer of best-in-class audio systems for automotive and interior component OEMs and suppliers.
Business Description
Surecore designs, develops and licenses low power embedded memory (SRAM) IP for the electronics and semiconductor industry, meeting the design needs of next-generation products
Rationale for Investment
Opportunity to be a leading developer of IP for silicon process technologies to meet power-efficient and manufacturability needs of electronics in IoT, wearable and medical products
Business Description
LM Technologies designs, develops and manufactures wireless modules and adapters, enabling the Internet of Things (IoT) by providing technology solutions across a number of industries.
Rationale for Investment
To be a leading technology enabler in Internet of Things (IoT) applications by designing and developing data connectivity products with Bluetooth®, WiFi™ and other mobile technologies
Business Description
Impression Technologies has developed a process technology for manufacturing light-weighted components using high-strength aluminium, known as Hot Form Quench (HFQ®).
Rationale for Investment
Commercialising HFQ®, exclusively licensed from Imperial College London, through its own facility and a licensing model, with adoption by high-end automotive OEMs and suppliers.
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