Edison issues update on NetScientific (NSCI)

LONDON, Oct. 24, 2018 (GLOBE NEWSWIRE) -- NetScientific (NSCI) announced the completion of a $10m Series A funding for Glycotest with Fosun Pharma, a Chinese pharmaceutical company with a market capitalisation of HK$71bn. As part of the transaction, Fosun will invest an initial tranche of $3m, with another $7m due upon the completion of certain milestones, in return for a 40% interest in Glycotest as well as the China rights for its hepatocellular carcinoma (HCC) panel. The transaction still needs to be approved by regulatory authorities in both China and the US (where Glycotest is based). Approval is expected in around 30 days’ time.

We are maintaining our valuation of NetScientific at £50.6m or 64p per share. We will update our valuation upon regulatory approval of this investment from both the Chinese and American authorities. Besides updating NetScientific’s ownership stake, we will review our revenue estimates, particularly for the Chinese market. Click here to view the full report.

All reports published by Edison are available to download free of charge from its websitewww.edisoninvestmentresearch.com

About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Edison is authorised and regulated by the Financial Conduct Authority.

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison’s reports are not solicitations to buy or sell any securities.

For more information please contact Edison:

Maxim Jacobs, +1 646 653 7027Briana Warschun, +44 (0)20 3077 5700[email protected]

Learn more at www.edisongroup.com and connect with Edison on:  LinkedIn https://www.linkedin.com/company/edison-investment-research Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv

Source: Edison Investment Research Limited

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• UPDATE -- Xcel Brands Announces Exclusive Partnership and Launch of Limited-Edition Capsule Collection with Baggallini and Coco Rocha
• Are Rain Gutters Necessary For Homes in Flagstaff, AZ? Experts Explain Why Proper Water Management Matters
• Four Michigan students advance to national finals of the Mott Million Dollar Challenge in Flint