Pictor - Market launch imminent
This Offer which we first presented on Boxing Day last year, and may have missed your attention, has had significant developments and is about to close.
This Offer which we first presented on Boxing Day
last year, and may have missed your attention, has had significant developments
and is about to close.
CEO Dr Thomas Schlumpberger is now based in San
Francisco where Pictor has a subsidiary. A major part of this rationale is
that under his leadership, Pictor now has a clear pathway to a liquidity event
via in trade sale in 2023.
Thomas has a great track record for doing deals for diagnostic companies.
Notable is the trade sale of EPOCAL for US$295 million.
Dr Sandeep Vashist, Pictor’s Global IVD
Director drives Pictor’s R&D. He is one of the world’s best invitro diagnostic scientists.
Patented
A patent for the novel COVID-19 assay was filed with a priority date of July
29, 2020. And now MPI has approved a grant of $400,000 for
Pictor (in collaboration with LIC) to develop the Bovine panel for Johne’s and Milk Pregnancy Test.
The patent for this has been filed which will circumvent a Monsanto patent for
milk pregnancy testing. This has potential to be used for livestock other than
bovine.
A Market Study has been completed for Pictor by international consultant myNext which provides a road map for Pictor’s
COVID assay to be clinically validated and launched in the markets of Europe,
the U.S.A, and India as well as New Zealand.
Exit strategy
The directors of Pictor believe it would also be prudent to raise significant
funds in one more round. This is expected to be from a U.S. fund and will
position the company for an acquisition and enable it to negotiate from a
position of strength.
The company is contemplating a US$10 million funding round in mid-2021 - at an
expected pre-money valuation of NZ$50 million - and is targeting a trade sale
in excess of US$200 million. If this was achieved, the multiple for
investors in the current round would be 9.5.
If COVID-19 had not arrived, the goal had been to sell the company for around
NZ$100 million sometime after the launching of their Dengue assay in India
(that launch will still happen in 2021) and their M.bovis assay.
Want to know more?
An Information Memorandum, an investor slide deck and a subscription agreement
are all available for intending investors.
So if you’re interested in investing, or would like more information, email or give me a call on +64 21 902 901.
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The above investment is not
an offer of financial products that requires disclosure under the Financial
Markets Conduct Act 2013 (Act) and is available only to wholesale investors as
defined by that Act. It is intended for distribution only to selected
people to whom, under the relevant laws, it can be lawfully distributed. It
cannot be distributed in any other jurisdiction, or to any other people. It is
not an offer or solicitations in any jurisdiction in which such offers or
solicitations are not authorised, or in which the person making such offers or
solicitations are not qualified to do so, or to any person to whom it is
unlawful to make such offers or solicitations. Any representation to the
contrary would be unlawful. No action has been taken by any person that would
permit a public offering in any jurisdiction where action for that purpose
would be required.
Cheers
John Paine B.Sc.,
Dip BIA
TBK Capital Limited
Level 10,120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901
Email john.paine@tbkcapital.co.nz
For more information, please click the contact button below to send us a message.
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