NetScientific has exited its loss-making portfolio companies Vortex and Wanda after originally deciding to close the two medical diagnostics ventures last week.
Commercialisation firm NetScientific sold its majority stakes in US-based medical diagnostics portfolio companies Vortex Biosciences and Wanda on Friday to investment firm EMV Capital for £150,000 ($199,000).
NetScientific had opted to close the two businesses through an orderly wind-down last week as it had concluded an earlier EMV Capital approach was insufficient to cover the costs of funding them through due diligence and negotiations.
However the company was satisfied revised terms from EMV, through its vehicle Deeptech…
