Finally ,starting to see some media coverage coming first.
I agree with Juke, lack of media coverage, only few people know this stock is the only reason we see NSP's MC is only 15% of its subsidiary at today's close SP 7.3c.
NuSep snags S$6m investment from Singapore's Luye Pharma Group for plasma business
NuSep (ASX: NSP) has attracted substantial investment in its Singapore plasma business, with Singapore-based Luye Pharma Group (SGX:LUYE) set to invest S$6 million (A$4.6 million) in subsidiary PrIME Biologics Pte Ltd in exchange for a 10% interest in the company.
This transaction, which is through Luye subsidiary A-Bio Pharma Pte Ltd, values PrIME at S$60 million, for just its therapeutic plasma application, and marks the first investment by a pharma company into NuSep’s PrIME technology.
Importantly, this investment allows NuSep to establish a physical presence for Prime Biologics in Singapore.
It marks the start of operations in Singapore with S$3.5 million being allocated to the fit out and equipment of the A-Bio facility and a further S$2.5 million for the facilities cGMP approval documentation.
The 2,000 square metre facility was previously approved to manufacture therapeutic products by the Singapore Health Sciences Authority, which is expected to shorten the time to market for PrIME’s first therapeutic product by at least six months.
The facility is large enough that PrIME will be able to run two production lines – one for normal regulated plasma and a second for the Indian CUP product.
In a further coup for NuSep, the investment deal provides the option for Luye to increase its shareholding to 20% by investing a further S$6 million in PrIME shares.
Terms of the deal
NuSep will issue Luye with 6 million shares in PrIME giving it a 10% shareholding.
NuSep currently holds the remaining 90%, but expects to sell this holding down to about 50% as additional investors subscribe for shares in PrIME.
MEM Price at posting:
7.3¢ Sentiment: LT Buy Disclosure: Held
