EMV Capital: refinanced and focused on enhancing value

EMV Capital plc is a deep tech and life sciences venture capital investment group with an international portfolio of high-growth companies.

With a strategic focus on generating superior returns for investors from the fast-growing sectors and technologies that will define our future, the group invests in, manages, and strengthens early stage IP-rich companies.

EMV Capital (AIM:EMVC, FRA:NTK1), the AIM-listed deep tech and life sciences investment group, said it would deconsolidate two portfolio companies after fundraisings cut its holdings in each below 50%.

The change took effect from 30 June, with Glycotest and ProAxsis to be accounted for as associates rather than subsidiaries.

Glycotest, a US liver cancer diagnostics company, closed a first tranche of about $3.22 million, comprising roughly $1.05 million of cash and $2.17 million from converting existing loans.

The round took the group's equity stake to 48.67% on a fully diluted basis, valuing the holding at £13.7 million.

EMV Capital CEO, Dr Ilian Iliev, talked with Proactive about AMR Bio and the progress being made with XF-73, a late-stage antimicrobial drug candidate targeting drug-resistant bacteria and surgical site infections.

Joining the discussion was AMR Bio executive chairman Nigel Brooksby, who explained how XF-73 has demonstrated strong clinical and laboratory results and is now preparing for Phase 3 development discussions with the FDA. Brooksby said the treatment works differently from traditional antibiotics because it attacks bacterial membranes and acts extremely quickly against resistant bacteria.

AMR Bio, a portfolio company of EMV Capital (AIM:EMVC, FRA:NTK1), the AIM-listed deep tech and life sciences investment group, is preparing its XF-73 antimicrobial asset for a phase III clinical trial targeting the prevention of post-surgical infections.

XF-73 is a first-in-class topical antimicrobial designed to rapidly eliminate harmful bacteria before surgery, with a Phase 2b trial having previously demonstrated a 99.5% reduction in bacterial nasal carriage across 124 open heart surgery patients.