Novus Capital Limited is an investment and financial services company specialising in Investment Banking, Corporate Advisory and Share Trading services for Australian corporate and private clients, and overseas corporate clients.
World Breakthrough Patented Radiation Dosimetry
Electrogenics Laboratories Limited (“ELL”) or (the Company) has a worldwide exclusive license from the University of Wollongong (UoW) for the MOSkin sensor technology. The MOSkin technology was developed by a team at UoW led by Professor Anatoly Rozenfeld, who is regarded as a leading expert in the field. MOSkin technology, among other things, claims to be the only sensor technology that can measure radiation dosage compliant with the WED standard. This standard is currently a guideline but may become mandatory in Europe in the next few years and, thereafter, will most likely be adopted worldwide.
The MOSkin technology will be incorporated into several products, with the most important being a single-use, wireless-equipped radiation sensor. The MOSkin technology can also be built into machines made by the leading manufacturers such as Siemens.
ELL believes the MOSkin technology and resultant products are ready for commercialisation as so wishes to proceed to optimise products for volume manufacture, appoint an Australian manufacturer and proceed with getting regulatory approval from the TGA in Australia and the FDA in the USA and later, European and Asian accreditations as well.
As a Class 2 Non-invasive medical device, the accreditation process is expected to take around 6 months from the completion of the final product design. ELL has engaged a specialist company Brandwood CKC to lead this effort.
The Company is offering a limited opportunity for eligible investors to participate in its Series A raise; The details of which are:-
There may be a further Series B raise mid-2022 at a significantly higher valuation and the IPO is planned for Q2/3 2023 after FD A approval and launch in the USA and Australia. The Company may also consider M&A opportunities should they deliver outsized returns for the shareholders.
Click on the picture to download the deal Term Sheet Flyer
Massive Global Market Potential
The Company estimates that the total global market potential for its sensors to be around 500 million units per year. There are about 6 million cancer patients who receive Radiation as a part of their treatment (about one-third of the 20 million cancer cases diagnosed each year. Each course of treatment consists of an average 20 sessions and between 2 and 4 sensors may be used. In addition, there are around 40 million Interventional procedures that use extensive radiation such as Angiograms, spinal surgery etc. Diagnostic radiation such as CT scans may use the sensors in special cases, but the Company does not consider this as a market in the first phase of growth
First Mover Advantage
The Company's patents, granted in the USA, China, and Europe will give it a chance to build market share and economies of scale before competitors can get started. The US patent lasts until 2031. Conservative financial forecasts (see Term Sheet - download by clicking on the picture) show sales growing from about $3m to $80M in year 4, which is less than 5% of the total market potential.
Electrogenics hopes to follow the example of other Australian medical technology companies emanating from Australian university research and now worldwide sucesses,such as Resmed and Cochlea
Novus has been mandated as Lead Manager, Sponsoring Broker, Financial and Corporate Adviser to the Company for the purpose of undertaking a pre-IPO raising followed by an IPO and admission to the official list of the ASX.
Indicative Timetable of this Offer (subject to change)