Investment update - Kirkstall and Paraytec

24 July 2024

Braveheart Investment Group Plc

("Braveheart", the "Company" or the "Group")

Investment update - Kirkstall and Paraytec

Braveheart Investment Group (AIM: BRH), announces an update on two companies within its investment portfolio, Kirkstall Limited ("Kirkstall") and Paraytec Limited ("Paraytec").

Kirkstall (Braveheart owns 86.11% of the company)

Kirkstall operates in the market known as 'organ-on-a-chip', where it has developed Quasi Vivo®, a system of chambers for cell and tissue culture in laboratories. Its patented technology is used by researchers in the growing New Approach Methodologies ("NAMs"), which enable human-relevant drug safety decisions to be made without the need for animal testing. 

Kirkstall has appointed a new distributor, Beijing Kilby Biotechnology Co. Ltd ("BKB") for China. The agreement is exclusive and covers distribution within China for all Quasi Vivo® products. BKB will execute a sales and marketing campaign over the next 18 months with the objective of achieving sales throughout the country.

Ansen Pan, CEO of BKB said, "The 3D cell culture and organ-on-chip related products are currently an open opportunity in the Chinese market. In January 2024, the National Institutes for Food and Drug Control (NIFDC) issued guiding principles, which for the first time included three-dimensional tissue models and organ-on-chip technology in the non-clinical research guidelines for human derived stem cell products, making it an important technical means for evaluating the non-clinical efficacy and safety of drugs.

"We are deeply honoured to collaborate with Kirkstall and promote their excellent technology. Kirkstall has been widely recognized by academic, CRO and industrial customers globally with Quasi Vivo® demonstrating excellent product performance for predictive, physiological, and animal-free in vitro models."

Paraytec (Braveheart owns 100% of the company)

Paraytec develops high performance specialist detectors for the analytical and life sciences instrumentation markets.

As previously reported, Paraytec has confirmed that its CX300 instrument can detect and discriminate gram-positive and gram-negative bacteria in a sample from human blood in approximately 90 minutes, which is significantly faster than the current gram test which takes between 24 and 48 hours.

Paraytec has now filed a UK patent application (number 2410763.3) for this method, allowing gram-positive and gram-negative bacteria to be distinguished in a biological fluid sample. The patent covers the analytical method and is primarily intended for use with Paraytec's CX300 instrument. In addition, the method described in the patent application is potentially applicable for use in equipment already produced by other manufacturers. This could provide Paraytec with a future royalty income through licencing out this technology within the medical and life science industries.