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Edison Issues Update On Netscientific (NSCI)

LONDON, UK / ACCESSWIRE / April 18, 2018 / NetScientific (LSE: NSCI) recently announced full-year results for 2017. It was a year of progress for the company, which is carrying forward into 2018. In February 2018, ProAxsis had its first commercial sale of Neutrophil Elastase Airways Test (NEATstik) for measuring active neutrophil elastase, in this case to a research lab conducting a respiratory clinical trial with a pharmaceutical company. In March, Vortex announced a collaboration with BioView for automated clinical biomarker identification of circulating tumour cells.

We have adjusted our valuation of NetScientific from £70.5m or 102p per share to £67.9m or 86p per share. This is mainly due to a more conservative view of the revenue ramp for Vortex, Wanda and Glycotest (though peak sales remain the same) and a higher share count following the equity raise, which was partly mitigated by rolling forward our NPVs to 2018. We expect to update our valuation with the closing of financings for the individual companies, due in 2018, and following the closing of the recently announced financing for NetScientific itself.

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For more information please contact Edison:

Maxim Jacobs, +1 646 653 7027

Nathanial Calloway, +1 646 653 7036

Healthcare@edisongroup.com

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SOURCE: Edison


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