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Oxonica

  • BY: Andrew Hore |
  • POSTED: 17/03/2008 |

Oxonica has appointed a subsidiary of its nominated adviser Panmure Grodon to advise it on how to commercialise its diagnostics products. 

ThinkEquity, soon to change its name to ThinkPanmure, has been appointed to advicse on the strategic alternatives for commercialising the company’s Nanoplex technology.

Diagnostics is the smallest part of the business in revenue terms – it contributed £311,000 out of group revenues of £4.17m – but it probably has the most long-term potential.

Oxonica is collaborating with Becton Dickinson to research and develop the Nanoplex biomarker detection technology for the clinical in-vitro diagnostics market. Oxonica has also been evaluating the technology with other diagnostics companies.

Net cash was £4.8m at the end of 2007 and the cash outflow from operations should reduce this year because of cost savings. The 2007 cash outflow was £5.7m.

The shares fell 2p to 33.5p. That is still well above its recent low. 

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