Healthcare and biomedical investor Netscientific PLC's (LON:NSCI) portfolio company Wanda has sold off its stake in OncoVerse LLC for an undisclosed sum.
The sale to BTG plc (LON:BTG) represents a “strong return” on NetScientific’s initial investment and a “successful exit” from the first downstream application from Wanda, NetScientific said.
WATCH: Netscientific boss on "strong return" from OncoVerse sale
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OncoVerse is a digital health platform which allows cancer patients’ care teams to collaborate and also allows clinicians across all disciplines to work together to establish the most effective treatment plan for their patients.
“We believe the OncoVerse platform will become a leading tool in the management of cancer patients and we are proud to have been involved in helping bring it to maturity,” said NetScientific chief executive François Martelet.
“The sale of the equity to BTG represents a strong return on NetScientific's initial investment, and underscores Wanda's unique expertise in creating tools which can support informed treatment decisions.”
Dignity Health, which has been a co-investor from OncoVerse’s inception, will continue to be a shareholder alongside BTG.
As far as Wanda is concerned, Martelet said NetScientific will continue to support it as it looks for new “promising opportunities” in the remote health management space.
Shares opened 4.5% higher at 57p on Monday.