Scope Fluidics, a life science company listed on the Warsaw Stock Exchange, has signed an agreement with the renowned transaction advisor Perella Weinberg Partners, headquartered in the United States. This marks the launch of another key stage in the process of securing a global business partner for the BACTEROMIC system. The decision represents an important step in implementing Scope Fluidics’ strategic objectives.
Perella Weinberg Partners is a global, independent investment advisory firm employing more than 700 professionals across 10 offices worldwide. Since its inception, the firm has advised on transactions with a total value exceeding USD 1 trillion, including healthcare sector transactions worth more than USD 200 billion since 2011. Its healthcare team consists of more than 65 professionals, including 9 partners. PWP has extensive expertise and experience in the AST sector, having worked with numerous clients in this field and serving as a financial advisor on many successful transactions.
BACTEROMIC directly addresses the needs of the rapidly evolving AST market and is being prepared for commercialization in every respect – from design and chemistry, through algorithms and management systems, to production and laboratory support. The market potential of the BACTEROMIC system has been recognized by both potential global industry partners and advisors. Signing an agreement with a reputable transaction advisor is a natural step in implementing our strategy for this key project. A partner with such strong expertise in the AST field gives us confidence that we will make optimal use of BACTEROMIC’s potential. We are very pleased to be working with such a distinguished advisor – it provides excellent support in our efforts with global players and, more broadly, reflects the consistent implementation of the Scope Fluidics Group’s development strategy, said Piotr Garstecki, CEO of Scope Fluidics.
The advisor will support Scope Fluidics in conducting negotiations with potential investors and in analyzing proposals regarding the terms of the strategic transaction. The advisor’s remuneration is success-based, meaning it depends on the value of the strategic transaction (subject to a specified minimum commission). The advisor’s remuneration and other terms of cooperation are consistent with market standards for this type of service.
BACTEROMIC is a fast, automated system for antibiotic susceptibility testing (AST) that provides precise information enabling the selection of appropriate antibiotic therapies, combining high efficiency with ease of use. The value of the BACTEROMIC system continues to grow – among other things, this year the company submitted documentation to a notified body that includes the results of clinical studies of the system and other materials required to obtain IVDR certification for the system equipped with the UNI Panel and the current software.
Additionally, as part of the process of obtaining FDA certification for the BACTEROMIC system equipped with the UNI FAST Panel, the Group’s special-purpose vehicle will be able to apply directly for certification of the version enabling the assessment of bacterial susceptibility to up to 52 antibiotics and the detection of up to three resistance mechanisms: ESBL, MR, and HLGR. The UNI FAST Panel will operate based on “fast detection” software, which will reduce the time required to assess bacterial susceptibility from the current 16 hours to a maximum of 8 hours.
The past months have brought many important developments for us, and one of the most significant is the signing of the agreement with the transaction advisor. This represents a crucial step in our preparations for a potential M&A deal. After nearly two challenging years from a market perspective, we now see an opportunity for renewed appetite among global players to acquire innovative medical diagnostics projects such as our flagship BACTEROMIC. Our goal is to prepare the process in such a way as to take advantage of improving market conditions at the right time. Cooperation with Perella Weinberg Partners fits perfectly into our clearly defined plan for the development of the Scope Fluidics Group, said Szymon Ruta, Vice President of the Management Board and Chief Financial Officer of Scope Fluidics.
