Scope Fluidics S.A., (WSE NewConnect: SCP) a biotechnology company developing innovative projects using microfluidic technologies for applications in medical diagnostics, is moving the listing of the company’s shares to the WSE’s main floor after less than six years since its debut on NewConnect. In connection with the change of the share listing market, the company has prepared a prospectus, which was approved by the Polish Financial Supervision Authority on 12 January 2023. In the transfer of the listing of Scope Fluidics shares, no offer for sale of shares is being made.
The date for Scope Fluidics’ first listing on the Warsaw Stock Exchange main market has been set for 20 January 2023. This will be the third debut on the WSE’s main floor and also the third transition by any company from NewConnect this year.
Scope Fluidics S.A’s shares debuted on the NewConnect market on 16 August 2017 and since then the company’s share price has increased more than tenfold.
The change of the listing market for Scope Fluidics S.A. shares is a consequence of the company’s dynamic growth over the past few years from a start-up to a Capital Group with a capitalisation at the time of the transition in excess of PLN 640 million. (as of January 17, 2023)
Scope Fluidics S.A. had a very successful 2022, in which the company’s biggest success was the transaction to sell 100% of the shares in Curiosity Diagnostics Sp. z o.o., the subsidiary developing the PCR|ONE project, to global molecular analytics leader Bio-Rad Laboratories. The US company, which has a capitalisation of USD 12 billion on the New York Stock Exchange, paid USD 100 million as part of the payment due upon signing the agreement. In addition, the agreement provides for additional future payments to Scope Fluidics with a total value of up to USD 70 million. These payments are contingent on the Curiosity Diagnostics team achieving milestones in the development and commercialisation of PCR|ONE.
“I am very pleased to move to the main floor of the Warsaw Stock Exchange and to make our shares available to a wider range of investors. We are systematically building up all aspects of Scope Fluidics operation in order to increase the value of the group. We would like to thank the investors for their trust so far – Scope Fluidics’ debut on NewConnect in 2017 provided us with a number of opportunities, which we feel we have taken full advantage of. We have multiplied the capital raised from investors on several occasions. We have made a transaction that is unique on our market, selling a technology created in Warsaw to a US partner. Meanwhile, Bacteromic has obtained market clearance for its first diagnostic panel. Thanks to the work of our teams, we have confirmed that long-term investment in life-science companies can yield a solid rate of return. Now, new challenges lie ahead. We anticipate that listing on the main floor of the Warsaw Stock Exchange will improve the liquidity of our shares and enable new investors – both domestic and foreign – to participate in our ventures. We also hope to maintain the interest of individual investors who have been actively investing in Scope Fluidics for years.”– says Piotr Garstecki, CEO of Scope Fluidics S.A.
Following the sale of its PCR|ONE technology to a multinational corporation operating in the global market for bio-analytical techniques, Scope Fluidics is focusing on building value and ultimately selling its second flagship project, the BacterOMIC system for assessing bacterial drug susceptibility. BacterOMIC is a diagnostic system that addresses one of the most important challenges of modern medicine – multidrug resistance of pathogens. The system allows phenotypic evaluation of the effectiveness in a specific patient of 25 antibiotics used to treat, among other things, infections of the respiratory system, blood, urinary tract or skin. BacterOMIC will give clinicians access to complete, practical information, speeding up access to precise antibiotic therapy. BacterOMIC is a system with very high market potential to revolutionise antibiotic therapy. Experts estimate that the future market for automated antimicrobial susceptibility testing is already worth around USD 1 billion a year. Clinical trials have proven the effectiveness of the BacterOMIC system, which ultimately has the potential to test all clinically relevant antibiotics in a single test.
The company is working intensively on the development of the BacterOMIC technology and conducting activities towards the commercialisation of this technology. The BacterOMIC system has already received attention in the diagnostics market – in 2019 it was selected as a semi-finalist in the American Association for Clinical Chemistry (AACC) competition for the most groundbreaking solutions in medical diagnostics. In July 2022, BacterOMIC was selected to participate in the 1st Pan-European Hospital & Healthcare Procurement Summit, held on 20-21.09.2022 in Brussels. Scope Fluidics with its flagship project, BacterOMIC, was selected by the European Innovation Council (EIC) as one of 6 companies from Europe. The BacterOMIC project was presented at hearings organised by the EIC in early July and at a plenary session in Brussels to a forum of more than 300 decision-makers and experts from around the world in the healthcare procurement sector. BacteroMIC has also been presented at the MEDICA international trade fair for medical technology and medical products, which took place from 14-17 November 2022 in Düsseldorf.