Update on Phasefocus Holdings Limited

RNS Reach announcement (non-regulatory)

24 September 2020

Braveheart Investment Group plc

("Braveheart" or "the Group")

Update on Phasefocus Holdings Limited

Braveheart Investment Group (AIM: BRH), is pleased to provide an operations update on Phasefocus Holdings Limited ("Phasefocus"), the computational imaging technology company in which Braveheart owns 42.67 per cent. of the issued share capital.

The Phasefocus Virtual Lens™ is a novel method for high fidelity quantitative phase imaging and microscopy that has a wide range of applications including live cell imaging, engineering metrology and electron microscopy.

The switch to online sales meetings and virtual demonstrations for its high value instrument is proving successful. With life science research laboratories working hard throughout the pandemic Phasefocus continues to have a strong sales pipeline for Livecyte2™ instruments and received orders from customers in Italy, Israel and China, as well as software and hardware upgrades to existing Livecyte™ users at York, Manchester and Hull Universities, the Francis Crick Institute and others.

As well as original equipment sales to customers, Phasefocus is seeing a growing demand for long term service contracts. Phasefocus sees this as an excellent opportunity to increase guaranteed revenues, whilst providing users with certainty that they continue to operate at the forefront of the scientific capability, through regular system updates and servicing.

The Livecyte2™ software is already a market leader enabling users to record, track and classify the responses of individual live cells, grown in the laboratory, as they are subjected to drugs. Phasefocus is now working, in collaboration with the Manchester University, to further enhance LiveCyte™ using Artificial Intelligence ("AI") based image classification.

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