21st Aug 2023 10:14
(Alliance News) - Braveheart Investment Group PLC on Monday said it has invested more in Phasefocus Holdings Ltd, a Sheffield-based company that develops products that quantify and compare dynamic live cell behaviour.
Bravheart is a Barnsley, England-based investor in small-and medium-sized businesses.
It has purchased 18,750 new shares in Phasefocus at GBP8 each for a total investment of GBP150,000. This takes its total interest in the share capital of Phasefocus to 48%. Prior to the new investment, as of March 31, Braveheart's investment in Phasefocus was valued at GBP2.5 million.
Phasefocus's imaging and analysis system, Livecyte, uses a novel, patented method for high-fidelity quantitative imaging and microscopy.
Earlier in August, Phasefocus launched a new t-cell killing assay for the Livecyte cell imaging platform, which quantifies interactions between immune cells and cancer cells.
Braveheart said on Monday that its investment would provide Phasefocus with the working capital to market this new t-cell assay and build Livecyte stock, in preparation for further anticipated orders. It follows a GBP134,000 investment by the company in Phasefocus in January 2023.
Phasefocus recorded a pretax profit of GBP990,854 in 2022.
"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," said Chief Executive Officer Trevor Brown.
Braveheart shares were trading 0.8% higher at 12.35 pence each in London on Monday morning.
By Holly Beveridge, Alliance News reporter
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