NEWS

Co-founder of Audioteka and eTutor believes in second life for NanoGroup

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.


Przemysław Mazurek, CEO of NanoGroup:

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.

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 head of NanoGroup concludes:

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.

Paweł Ciach

Member of the Supervisory Board of NANOGROUP S.A.

Diplomat and specialist in the marketing and media industry. Graduate of the Department of International Relations at the National Institute of Oriental Languages and Civilizations in Paris and history and sociology at the Higher School of Social Sciences at the Faculty of History in Paris. Graduate of the Diplomatic Academy (Diplomatische Akademie) in Vienna and Postgraduate Management Studies at the Faculty of Management at the University of Warsaw. Worked as a journalist, publicist, reviewer, translator and foreign correspondent. Former advisor to the president of the board for media relations at the Agricultural Market Agency and president of the board of Press-Net. Public Relations trainer, among others at: Migut Media, Knowledge, ECU International, Advertising Academy Adam Śledański. He served as director of the board office of the Association of Organizations for the Employment of Disabled Persons and president of the board of the foundation “Niezależny. Fundacja na rzecz Nieprawni”. Lecturer at the Institute of Journalism of the Warsaw School of Advertising.

Jose Arrieta

Member of the Supervisory Board of NANOGROUP S.A.

Jose Arrieta is the former Chief Information Officer and Chief Data Officer of the United States Department of Health and Human Services. He oversaw $6.3B in IT investments, $800B in grants and $26B in Federal contracts in his last three years at HHS. He provided cyber security solutions for 174,000 people and a network that transacted with over 160 countries around the world. Jose led the creation and implementation of the largest public health surveillance capability in the United States during the pandemic and led the implementation of a national supervised machine learning effort to accurately distribute testing supplies and predict pandemic “hot spots” across the United States. He successfully defended the HHS network against multiple large scale nation state driven cyber-attacks. He led the first three implementations of blockchain technology in the public sector in the United States one of which was focused on reducing costs and speeding up procurement lifecycle. Jose was a cabinet level agency executive in the following positions: deputy assistant secretary for acquisition and grants, chief information officer, chief data officer, small business executive chief acquisition executive and senior procurement executive. Jose managed the largest contracting vehicle in the United States. He created and taught the first blockchain course (blockchain and cryptos) at Johns Hopkins University and taught business courses at University of Virginia and Prince George’s Community College. He founded small incubator called imagineeer when he left Government and works with customers and advises start-ups in the following markets: healthcare, food, energy, climate change, streaming and analytics, cybersecurity, artificial intelligence, and quantum computing. He is a member of the Navy Secretary’s Science and Technology Advisory Board.

Marek Borzestowski

Member of the Supervisory Board of NANOGROUP S.A.

For many years, President of the Management Board of NanoGroup, a holding company of biotechnology companies. Entrepreneur, manager and founder of many innovative companies with over 20 years of experience as co-owner and board member in leading Polish biotechnology, IT and e-commerce companies. After over a decade of work as president of the first internet portal in Poland – Wirtualna Polska, he founded the Polish-Israeli VC Giza Polish Ventures. Founder of the Sobieski Institute think tank, Startup Hub Poland Foundation. Member of supervisory boards in many innovative companies. Marek is a graduate of the Faculty of Management and Economics of the Gdańsk University of Technology, he also studied at the University of Wales in Great Britain. He conducted scientific research at the Center for Nuclear Research in Karlsruhe and the Gdańsk University of Technology.

Artur Olender

Member of the Supervisory Board of NANOGROUP S.A.

Investor, entrepreneur and financial advisor with over 28 years of professional experience. He managed the oldest Polish brokerage company – DM Penetrator S.A. Partner in Addventure and chairman of the supervisory boards of Intersport Polska S.A., Ailleron S.A., Archicom S.A., Sotis Sp. z o.o., OTC S.A. Former advisor to the Minister of Ownership Transformations and the Minister of the Treasury in privatization processes. Active participant in many environmental and legislative initiatives for the development of the Polish capital market. He participated in the implementation of dozens of projects to raise capital on the private and stock exchange market. He introduced to the stock exchange, among others, Mostostal Warszawa, Odlewnie Polskie, Poligrafia, WSiP, Polmos Białystok, Intersport, K2, Inteliwise, Cyfrowy Polsat, OT Logistic, Mercator Medical, Ailleron and Archicom. He studied at AGH and London Business School. Privately: windsurfer, sailor, skier, traveler, poet, composer and philanthropist.

Tadeusz Wesołowski

Member of the Supervisory Board of NANOGROUP S.A.

A well-known investor focused on companies from the medical and biotechnology industries. He has extensive professional experience in the healthcare sector. Founder of Prosper S.A., which is part of the NEUCA S.A. Capital Group – the leader of the pharmaceutical distribution market in Poland. Member of the supervisory boards of companies listed on the Warsaw Stock Exchange: NEUCA, Selvita and Braster. He is also involved in Venture Capital funds: Inovo and Experior. Doctor of Technical Sciences, graduate of the Warsaw University of Technology.

Robert Dziubłowski

Member of the Supervisory Board of NANOGROUP S.A.

Co-founder of Top Consulting S.A., one of the oldest consulting companies on the Polish market. He has over 25 years of international experience in the field of investment consulting, capital raising for companies, market acquisitions and company management. Long-time consultant to American financial organizations on Wall Street in New York, including those listed on the NASDAQ and NYSE stock exchanges. He advised, among others: Household International in preparing an acquisition strategy and obtaining a banking license in Poland, Wussler Group, a partner of Ted Turner Pictures in its attempt to take over NTV, the largest private television station in Russia, Eiffage Construction in the takeover of Mitex, the largest construction company at that time, Industrial Union of Donbas, an industrial group in Ukraine. Member, chairman and president of supervisory boards of many companies listed on the Warsaw Stock Exchange, including: Bauma S.A. (currently ULMA S.A.), Computerland Poland S.A. (currently Signity), PolAqua S.A. Co-founder of the Start-up Hub Poland Fund. Graduate of the Faculty of Journalism and Political Science at the University of Warsaw and International Relations at the University of Hawaii in Honolulu.

Jerzy Garlicki

President of the Supervisory Board of NANOGROUP S.A.

Medical doctor, also completed MBA, effective manager. Organizer of business model and company structures – experienced in building and developing companies and conducting restructuring processes of enterprises. In the past director and motivator of large companies and teams of people. A man recognizable as a leader in the Polish pharmaceutical industry. Member of the Supervisory Board of American Heart of Poland SA and President of WSiP SA. Previously President of Astra Zeneca Sp. z o.o., President of Fournier Polska Sp. z o.o., Sales Director of Pfizer Polska Sp. z o.o., Sales Director and Marketing Director of MSD Poland – also operating in the area of clinical trials.

Prof. Tomasz Ciach

Founder, Member of the Management Board of NANOGROUP S.A.

Nanotechnology expert. Professor at the Faculty of Chemical and Processing Engineering, Warsaw University of Technology, head of the Biotechnology and Bioprocessing Division. Author of two technologies that are already in production stage, 12 granted patents and over 50 publications. Founder of BioMedLab research group, consultant in numerous companies (AstraZeneca, Procter and Gamble, Reckit, Adamed, Balton, Galmed). Work on various aspects of Biomedical Engineering, mostly on biomedical nanotechnology, active coatings for medical implants, nanoparticles for cancer treatment, biodegradable and nonbiodegradable implants, bone and vascular prosthesis. He gives rare, but already brilliant example of how brave ideas become socially and financially valuable.

Piotr Mierzejewski

Vice President of the Management Board of NANOGROUP S.A.

Clinical pharmacology specialist, former advisor to the Minister of Health on drug policy. He negotiated Poland’s accession to the EU in the field of pharmacy, responsible for the implementation of EU directives in the field of pharmacy into the Polish legal system. Co-founder of the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products. Owner of a consulting company cooperating with international pharmaceutical companies in the field of introducing new technologies to the Polish market.

Przemysław Mazurek

President of the Management Board of NANOGROUP S.A.

Associated with the health market since 2004. As Managing Director, he restructured and developed the most dynamically operating Medical Center in the Podkarpacie region, creating and setting new standards of customer service quality on the market. Co-creator of the first solution in Poland for online registration of medical appointments. Co-founder of the first and only Infertility Treatment Clinic (MEDICOR) in Podkarpacie, which he headed as the President until 2009. He was responsible for the development of health insurance in the PZU Group. As Vice President of PZU Pomoc S.A. created the largest medical TPA in Poland to handle health insurance. Co-founder of the first drug insurance in Poland. Since 2015, he has been active in the field of Wealth Management and advises on management and finance. A graduate of International Economic and Political Relations as well as Management and Marketing at the Warsaw School of Economics.

Przemysław Mazurek

President of the Management Board of NANOGROUP S.A.

Associated with the health market since 2004. As Managing Director, he restructured and developed the most dynamically operating Medical Center in the Podkarpacie region, creating and setting new standards of customer service quality on the market. Co-creator of the first solution in Poland for online registration of medical appointments. Co-founder of the first and only Infertility Treatment Clinic (MEDICOR) in Podkarpacie, which he headed as the President until 2009. He was responsible for the development of health insurance in the PZU Group. As Vice President of PZU Pomoc S.A. created the largest medical TPA in Poland to handle health insurance. Co-founder of the first drug insurance in Poland. Since 2015, he has been active in the field of Wealth Management and advises on management and finance. A graduate of International Economic and Political Relations as well as Management and Marketing at the Warsaw School of Economics.