Michal Lach has bet millions on a WSE biotech group that recently came close to insolvency. NanoGroup is also supported by other investors. The entire article, by Mariusz Bartodziej, is worth reading in Puls Biznesu.
Valued at over PLN 20 million on the WSE (at its peak, even several times higher), NanoGroup was in 2022. On the brink of bankruptcy. It was saved from this by raising PLN 3 million from a share issue and millions more from the sale of shares received from major shareholders.
Now he wants to go out on a limb with the help of more investors, and among them is Michal Lach – founder of K2 Internet and co-founder of Audioteka and eTutor. Their greatest hopes lie in the NanOX project, a system for storage and perfusion (blood flow through organs) of organs for transplantation to extend their usefulness.
NanoGroup is running three investment processes in parallel. One investor offered to subscribe in two tranches of new shares at a maximum of PLN 1.05 (a price coinciding with the current rate) for PLN 1 million. In parallel, on the basis of a March 11 resolution, it is conducting a series L share issue at PLN 1 each for a maximum of PLN 3.7 million.
Przemysław Mazurek, CEO of NanoGroup:
We assume that this is the last issue at such an attractive price. So far we have received offers to take up shares for PLN 1.44 million, half of the amount has already been paid. We intend to look for more participants in an issue targeting less than 150 people
In addition, shares at PLN 1.05 for a total of PLN 5.1 million will be bought by eCapital, controlled by Michal Lach. Already on March 25, it announced that it and its subsidiaries had exceeded the 5% threshold. votes. As a result of the addition of 95,000 a few days earlier. shares.
Mr. Michal Lach is a very experienced entrepreneur who has successfully developed several companies. He had been watching us for several years and stayed in regular contact. He was already committed to a small amount and apparently decided that it was the right time to invest. His extensive experience will help us a lot, especially in the area of project promotion and fundraising. From preliminary discussions, it appears that he does not want to enter the company’s bodies, but intends to work closely with the management and support in strategic development, reports Przemyslaw Mazurek.
Przemysław Mazurek, CEO of NanoGroup:
Key objectives have been identified. As a result of the investment agreement, Michal Lach will clearly increase its shareholding, but will do so gradually, until the end of 2025 at the latest. 952 thousand. shares will take up shortly after the relevant resolution, but further tranches of similar size are contingent on progress in preparing the NanOX project for commercialization.
Przemysław Mazurek said:
The investor’s intention was to arrange the transaction in the form of a logical cause-and-effect sequence, in which formal activities – patenting or publications – are preceded by corresponding development successes, i.e. planned autotransplants. We anticipate completion of the contract in early 2025. and we estimate that half of the pool will be obtained within six months,” says Przemyslaw Mazurek.
He sees five autotransplants confirming the effectiveness of NanOX, filing a patent application, and publishing the research results in a reputable international journal as his main goals for this year. At the same time, the company is preparing an application for FENG (European Funds for the Modern Economy) funding, and its advisor, CET Advisors of the global Clairfield Internaional Group, is extensively scanning the market for potential business partners and investors.
The concluded investment agreement does not affect the cooperation with the advisor, whose main goal is to look for industry development partners interested in securing the rights to carry out the work and its further financing. The capital gained allows us to intensify our acquisition activities. On the other hand, in the medium horizon, we plan to obtain EU funding to bring the R&D work to Phase I of clinical trials, which will require securing an own contribution, the NanoGroup head concludes.
The head of NanoGroup concludes: