BATM Advanced Communications Ltd (LON:BVC)

BATM Advanced Communications Ltd (LON:BVC)

Share Price
46.95 p
1.1 (2.40 %)
Market Cap
£189.61 m
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BATM Advanced Communications Ltd RNS Release

Receipt of $14.5m investment in Ador Diagnostics

RNS Number : 2141V
BATM Advanced Communications Ld
05 April 2019

LEI: 213800FLQUB9J289RU66


5 April 2019


BATM Advanced Communications Limited

("BATM" or "the Group")


Receipt of $14.5m investment in Ador Diagnostics

First instalment under Investment Agreement to advance molecular diagnostics solution


Further to the announcement of 28 January 2019, BATM Advanced Communications Limited (LSE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, is pleased to announce the completion of the initial investment of $14.5m ("Initial Investment") under the conditional subscription and shareholders' agreement (the "Investment Agreement") for up to $30m to provide additional funds for the commercialisation of the molecular biology-based solutions being developed by Ador Diagnostics.


Pursuant to the Investment Agreement, following the Initial Investment, Ador Diagnostics has an enterprise value of $44.5m and BATM has an ownership interest of 38.2%.


A further $15.5m (at a valuation that will be a 33.3% premium to the post-Initial Investment enterprise valuation) is expected to be funded by the end of 2020, subject to certain milestones being achieved.


Dr Zvi Marom, Chief Executive Officer of BATM, said: "We are delighted to have received the Initial Investment to accelerate the commercialisation of our breakthrough NATlab system, which we believe will revolutionise the point-of-care medical diagnostics industry. Since signing the Investment Agreement, we have continued to make progress in our final preparations ahead of in-hospital installation. We are very excited about the tremendous potential of this unique molecular biology-based diagnostics solution."





BATM Advanced Communications

Dr. Zvi Marom, Chief Executive Officer

+972 9866 2525

Moti Nagar, Chief Financial Officer

Shore Capital Stockbrokers Limited (Broker to the Group)

Mark Percy, Anita Ghanekar

+44 20 7408 4050

SPARK Advisory Partners Limited (Financial Adviser to the Group)

Mark Brady, Andrew Emmott

+44 20 3368 3550

Luther Pendragon (Financial PR)

Harry Chathli, Claire Norbury, Joe Quinlan

+44 20 7618 9100



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