Oncology technology firm acquired for £5m
A scientific instrument manufacturer has acquired a cell imaging and analysis firm in a £5m deal.
Sheffield-based Phasefocus has been sold by Braveheart Investment Group, to Coventry-headquartered Bruker.
Phasefocus’ imaging and analysis system, Livecyte®, uses a novel patented method for high quality imaging and microscopy. Its new T-Cell killing assay quantifies interactions between immune cells and cancer cells, addressing a major unmet need for researchers developing the latest novel cancer therapies.
Braveheart holds 48.3% of the issued share capital of Phasefocus and its board now estimates that the total proceeds received by the sale will be £2.1m
Completion of the sale is subject to conditions being satisfied and the granting of probate relating to a deceased Phasefocus shareholder and is therefore expected to take place in Q1 2024.
The Braveheart board will consider whether the proceeds should be applied towards furthering the company’s strategy of investing in and growing technology-based companies in line with the investing strategy or whether to distribute the proceeds to shareholders through a special dividend.
