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Amphion enjoys improvement in equity markets

Amphion enjoys improvement in equity markets

Amphion Innovations (LON:AMP), the incubator for technology companies, gave a guardedly optimistic assessment of its prospects in the first half.

The planned listing of partner company Kromek, the scanners business, points to a favourable turn in the equity market and will give Amphion’s 13.3% stake an objective valuation.

It may also make it easier for its other fledglings to access capital to continue their development.

One of its firms, WellGen, has done this via the award of a phase-one SBIR grant by the National Institutes of Health.

The grant will help it progress the clinical investigation of its proprietary natural extracts in controlling type-two diabetes.

Amphion said it remains confident the DataTern business can generate “a substantial profit” from infringers of its intellectual property. That said the legal process has slowed.

The financials reveal the group generated revenues of US$264,638 during the six months to June 30 – in line with the final half of last year – and posted an operating loss of just over US$1mln. The net asset value as at the period-end was 12 cents (8p).

The statement did come with a cautionary statement on the group’s financial position as it said support for Amphion in the first half “has continued to be provided, for the most part, by loans from the directors and additional contributions from the management team”.

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Amphion Innovations Plc Timeline

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