nanosynth group plc (LON:NNN), the AIM quoted company has today presented the following Strategy Update:
Following the divestment of the non-core activities of Gyrometric and Cloudveil and the return of the mask manufacturing equipment to the supplier, the Company is now focused on the development of its leading nanomaterials technology around Pharm2Farm. Mark Duffin was appointed Group CEO in September 2021 and has already brought new key personnel and resources into the business to strengthen the Company’s operations and support finance, sales, marketing, HR and quality and management functions. The Board is considering relocating its operations in 2022 to a new UK facility that may include a scalable state-of-the-art production facility for nanomaterials to ensure that the Company improves its nanoparticle production capacity and capabilities to deliver at scale.
A review of potential sales markets has been carried out and the exploitation of the Company’s anti-viral technology remains a key area of focus. In order to reduce the cost of sale, a UK and overseas network of distributors is being established to supply masks and related products which incorporate this advanced patented technology. The Company is witnessing heightened levels of interest in the current market following recent international and Government guidelines. At the same time the Board is aiming to review and renegotiate existing contracts, including the Company’s previously notified contract with VKE where to date 45,000 masks have been delivered from the initial 250,000 order, to incorporate into this new international distribution network. In addition to this, the Company plans to target the HVAC market and increase marketing and social media activities considerably.
A thorough assessment of the Company’s in-house technology and R&D pipeline has identified eight market sectors where we can either manufacture products ourselves or work in partnerships where the partners’ IP, manufacturing capability, routes to market or other capabilities can be enhanced using our in-house skills or technology.
In addition to these organic growth initiatives within Pharm2Farm, the Group is actively looking at growing its technology and market presence in the nanotechnology and advanced materials space through complimentary acquisitions.
Mark Duffin, nanosynth group CEO commented: “I am delighted to report that since joining the Company we have made rapid progress developing and beginning to implement our strategy which is designed to establish a firm foundation for the business. The Board is committed to generate shareholder value in the short to medium term. We will continue to keep stakeholders appraised as we achieve key milestones.”