Deepverge is a vertically integrated business, collaborating technology platforms with partners in AI, clinical research, medical device, life ...
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SCIENCE-TECHNOLOGY-ENVIRONMENT-HEALTH
Deepverge is a vertically integrated business, collaborating
technology platforms with partners in AI, clinical research, medical
device, life science and environmental science.
York UK, Cork/Dublin Ireland, Poland, Delaware USA, Shanghai China.
Android App Launching Q3 – Laboratory Capacity - 20,000 per month
Wastewater - Quick Recap - Past
➔ 2015 - Use of microfluidics, photonics, AI to detect contaminants in
fluids in real time
➔ November 2019 - Announced the detection of E .coli in water
Wastewater - Quick Recap - Present
➔ Successful first data transfer of detection of SARS-CoV-2 via
Microtox® PD units has completed with clients, from multiple installed
units in undisclosed locations
➔ Final housekeeping/validation involves duplicate timestamped
samples for independent PCR testing with third party lab and
includes deeper data integration with Strathkelvin Instruments
➔ Planning manufacturing at scale in negotiation with China Resources
for rolling out at national level via Partners, Dell Technologies, EPS
Group
Supporting evidence-based, objective analysis to inform local and national
decision-making in response to COVID-19 and other health outbreaks.
Next 12 Months In Detail
Designed with further development to include mass manufacturing solution
development and initial batch build of the system.
➔ Project key phases
➔ Project timeline
◆ 2021 Aug - Dec - Version 2 - 100+ units with motorised optical
alignment
◆ 2022 - Jan - Mar - Version 3 - 100+ units with auto chip / flow
cell feed
◆ 2022 - April - Mass Manufacture up to 200 pm - Integrated
hardware and software design
2021 2022
Next 12 Months In Detail AUG SEPT OCT NOV DEC JAN FEB MAR APR MAY JUN JUL
Hardware iteration 1 100+ units
Iteration 2
M
Iteration 3 A
S
Optofluidic - Spectrometer S
Optofluidic - Diodes
P
New Chip designs R
O
Spike by 100+ incl linearity testing
D
Norovirus by 100+ incl linearity testing U
C
PMMoV by 100+ incl linearity testing
T
Multiplex chips X 100+ incl linearity testing I
O
Field trials & Validation in multiple jurisdictions N
AI training
Secure data store, share
Software/firmware updates - functionality and securityMicrotox®PD Scaling
Full turnkey design solution of pre-production evaluation batch builds and full designs
for mass production capability.
1. Hardware design capable of mass manufacture
2. Multiplex Chip design to identify additional pathogens for mass production
3. IT/software/systems to handle data volumes for mass surveillance
➔ AI training to identify additional pathogens
➔ Software/data integration and security for collection and sharing at a mass
surveillance level
Delivering real and near-time data on wastewater state from sensors to stakeholders
in a usable, understandable and contextually aware fashion, while also unlocking
millions of completely new data points to unearth new and better ways to manage
water issues.Multiplex Chip Designed To Identify
Additional Pathogens/Targets
Further development and design for a mass-producible photonic biosensor
based on success of current technology:
➔ Original optofluidic Cambridge team providing expertise to move to
mass manufacture of biochips
➔ A new set of multiplexed gratings fabricated using a higher quality and
scalable process than manual fabrications used to date. This
procedure is required for scaling to high volume manufacturing.
➔ Chips to provide a testbed for comparison to the existing chips in terms
of repeatability and mechanism from which the signal is obtained.Multiplex Chip Design To Identify Additional
Pathogens/Targets
Development and design for a mass-producible photonic biosensor based on
success of current technology:
➔ New iterative fabrication to allow optimised versions of the grating
design.
➔ Chips being developed to cover four iterations with at least two further
pathogen bindings - possibly Norovirus and PPMoV.
➔ Existing pathogen bindings have been shown to be able to capture /
detect cancerous cellsFinancial Development In Past 3 Years
Movement
FINANCIAL RESULT £’000 FY20 FY19 FY18 FY20 FY19
Administration
costs increased by
Turnover 4,483 823 274 445% 200% £1.59m due to
Cost of Sales (2,639) (221) (126) Modern Water
Gross Profit 1,844 602 148 206% 307% acquisition and
Administrative Costs (2,702) (1,657) (1,276) 63% 30% Labskin expansion
EBITDA (858) (1,055) (1,128) -19% -6%
EBITDA ex ESOP & Exceptionals (668) (1,053) (1,398) -37% -24%
Operating Profit (2,717) (2,371) (1,481) 15% 60%
Staff numbers
Total Comprehensive Loss (2,685) (2,273) (2,714) 18% -16% increased by 27 in
2020 to 43
Full Year Aggregate T/O 6,650 1,017 274 554% 271%
June 2021 – 57 Staff
13Statement of Financial Position Intangible Assets – Acquisitions
FINANCIAL RESULT £’000 FY20 FY19 FY18
Intangible Assets 18,241 3,654 718
2020 Modern Water £13.3m
PPE 874 471 32 2019 Rinocloud £ 3.0m
Other 923 1,211 708
Non Current Assets 20,038 5,336 1,458
Inventories 1,347 85 135 Current Assets Increase
Trade and Receivables
Cash
1,448
1,441
549
1,193
185
26
MW Microtox and Reagent stocks
Current Assets 4,236 1,827 346 Debtors reflecting strong Q4 sales
Total Assets 24,274 7,163 1,804
Cash Balance £1.4m
Trade Payables and Liabilities 2,668 693 1,979
Lease Liabilities 264 102 0
Deferred Tax 328 61 10
Liabilities – Borrowings
Borrowings 1,349 182 185
Current Liabilities 4,609 1,038 2,174 Mezz Finance £1.5m
Total Net Assets 19,666 6,125 (370) Short term loans £0.4m
Deferred Tax 2,780 500 80
Other Liabilities 382 402 0
Borrowings 583 135 334 Non Controlling Interest
Non Current Liabilities 3,745 1,037 414
Share Capital and Premium 27,449 14,065 5,922
Final 6.54% acquired 15 January 2021
Revenue Reserves (18,965) (15,400) (13,221)
Other Reserves
Non-Controlling Interests
7,436
789
6,423
0
6,515
0
Share Capital – Movement in Year
Total Equity 15,921 5,088 (784) Warrants exercised £ 1.3m
Total Equity and non current liabilities 19,666 6,125 (370) Modern Water 93.46% £12.1m
14Shareholder’s Equity, Market Cap and Year-End Share Price
31
£80,000 June 2021 £10m
16.95 £70,000 raised at 30p
£60,000
£50,000
Previous placing
5.95 price Dec 2019
£40,000
was at 15p
£30,000
£20,000
£10,000
Shareholders’ Equity
£0
-£10,000 Market Cap
£’000 YE 2018 YE 2019 YE 2020
Equity -£784 £5,088 £15,921 Share Price at Year-End
Mkt Cap £2,836 £18,285 £66,693
15Outlook – What’s Coming Up
➔ Skin Trust Club - Capacity of 20,000 Home Test Kits per month with
Android and availability in multiple countries by end of this year
➔ Wastewater - Microtox PD installations orders and installations to
begin before the end of this year in multiple jurisdictions
➔ Breath Test - Microtox BT tests ongoing. Likely to become part of a
multi-industry solution for COVID19, which is here to stay
➔ China Resources - negotiations are ongoing. Due to production
demand deal expected by the end of the 3rd quarter, early 4th quarter.
➔ Labskin – Clients continue to grow with Tier One global consumer skin,
health and pharma corporations
➔ Expansion - Laboratories in UK, US and Ireland to meet increased
demand for human, environmental health with AI and data analytics
➔ Multiplex chip trials - First real-time pathogen/virus surveillance to
include multiple pathogens on one microchipYou can also read
