Business
Life Sciences & Biosciences sector update
Life Sciences & Biosciences sector update.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n \nRNS Number : 4150W Mercia Technologies PLC 14 November 2017 \n\n\n\n\n\nRNS Reach\n\n\n14 November 2017\n\n\n\n\nMercia Technologies PLC\n(\"Mercia\" or the \"Group\")\n \nLife Sciences & Biosciences sector update\n \nMercia Technologies PLC (AIM: MERC), the national investment group focused on the funding and scaling of innovative technology businesses with high growth potential from the UK regions, is pleased to provide an update on recent commercial progress across its Life Sciences & Biosciences portfolio. \n \nMercia has a current portfolio of five Emerging Stars within its Life Sciences & Biosciences portfolio which represents approximately 20% of the Group's direct investment portfolio by value. Several of these companies are receiving high levels of commercial interest from strategic partners within their target sectors, and two of the portfolio are expected to be profitable during the current financial year.\nThe sector Investment Team continues to see many opportunities for potential future Emerging Stars as a result of its increased managed fund activity, which provides the Group's proprietary deal flow. Mercia is currently working closely with more than ten companies within its managed funds, including Aston Eyetech, a company that has developed a low-cost, lightweight ultra-portable eye testing technology and SleepCogni, a business which is being developed to help clinicians treat insomnia more effectively.\nIn addition, earlier this year Mercia successfully exited from AIM-listed direct portfolio company, Abzena (a joint University of Warwick and Imperial College spinout), in keeping with its focus on cash realisations. This is the second profitable cash exit which Mercia has achieved during its short time on AIM; an achievement which demonstrates the significant potential held within the portfolio.\n \nPortfolio Update:\nOxford Genetics is a specialist designer and developer of biological molecules that works within the growing global synthetic biology market, which is estimated to be worth circa $38.7billion by 2020[i]. Earlier this year the company opened an office in the US and its revenues continue to double year on year. In August 2017, Mercia announced a £2.0million investment into Oxford Genetics as part of a £7.5million synd...