eCapital, the main investor of NanoGroup S.A., on the earlier execution of the investment agreement and a much earlier payment of the remaining funds in the amount of PLN 3.25 million, despite the company not yet having achieved the next investment conditions – this is how Przemysław Mazurek, president of NanoGroup, says about the decision of the main investor. In September, eCapital also decided on another investment in the group of PLN 4.6 million at the current stock exchange rate.
The investment agreement between eCapital, founded by Michał Lach, and NanoGroup S.A. was concluded in March this year when the company’s share price was PLN 1.00 on the Stock Exchange. The total investment amounted to PLN 5.1 million, and the funds could be paid out in tranches after completing subsequent milestones (conditions), of which the group has so far completed two, including the key one, i.e. the successful autotransplantation of a pig kidney collected after a long, 30-minute stopped circulation using the NanOX system. According to the agreement, the investor could also take up shares of the new issue without waiting for the company to achieve subsequent milestones. Now, thanks to the investor’s decision to pay the remaining funds earlier, another PLN 3.25 million for the remaining stages has been transferred to the group’s account.
– Investing in biotechnology is always associated with risk – the long and expensive development process, complicated regulations, and market competition can be discouraging. However, the profit potential in this industry is huge. That is why we are all the more pleased with the cooperation with Michał Lach and his company eCapital, our main investor. With such a partner who believes in our success and strategically supports our activities, we are sure that together we will face the challenges that await us. We are grateful for the trust and the decision to implement the investment agreement from March 2024 earlier, despite the implementation of only the first few conditions that we set for ourselves. This is not the end of our journey, but we can already see how much we can achieve thanks to this cooperation. This is an expression of great trust – says Przemysław Mazurek, CEO of NanoGroup S.A. and reminds us that this is another positive piece of news for NanoGroup recently. At the beginning of the week, eCapital announced another investment in the group at the level of PLN 4.6 million, at the current market share price of PLN 3.50.
At the same time, the group’s management assures that the investor’s decision will have only a positive impact on the adopted pace of work. This year, it is planned to file patent applications for the NanOX system, apply for EU funding, and also test a prototype of a device for storing organs collected for transplantation.
