Bid Deadline: Tuesday 11 October 2022 at 4pm BST
Hilco is delighted to offer for sale the business and assets of a VC-backed health tech company and medical test kit provider (the “Company”).
The Company is a predictive health technology business delivering on-the-spot tests which detect subtle biomarkers in people’s bodies to predict illness before it becomes acute or infectious. The Company has developed a proprietary platform technology which enhances the sensitivity of standard lateral flow tests by ten times. The Company’s on-the-spot saliva test kit using this technology are currently designed to detect infections remotely while uniquely only identifying whether the user has an active infection, enabling people to understand and make informed decisions about their health.
The salient details on the business are as follows:
Available assets include:
Intellectual Property – including international patent applications protecting the Company’s innovative sensitivity enhancer for lateral flow tests with a multitude of potential applications, a trade mark portfolio protecting the brand and product names, copyright in website content and domain names;
Organisational Knowledge – a deep stack of trade secrets and extensive organisational knowledge covering the processing of nanoparticles used to deliver the enhancement to the standard lateral flow tests and associated diagnostic data;
Goodwill – the valuable goodwill attached to the business;
Tangible Assets – including centrifuges, analytical equipment and stock of protein worth circa £400k at cost;
Offers for the business and assets of the Company due Tuesday 11 October 2022 @ 4pm BST
It is envisaged the sale will be concluded on an asset only basis via the appointment of Administrators.
All expressions of interest and offers should be directed to Hilco in writing. Additional information and access to a virtual data room is available under NDA. The information provided has not been verified by Hilco and bidders are deemed to have carried out their own due diligence. A Bid Submission Form for submitting offers is available.
The bidder acknowledges that Hilco acts as an agent for the Company and its Proposed Administrators who offer for sale only what right, title and interest the Company possesses in the assets. Such sale will be without any indemnities or warranties, expressed or implied. The assets are sold “as is, where is”. VAT at 20% will be added to the price if applicable. Legal completion to occur within 5 business days of bid acceptance. Hilco’s full Terms and Conditions apply. Hilco’s full Terms and Conditions apply.