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ZICOM GROUP LIMITED — Capital/Financing Update 2016
Dec 1, 2016
66117_rns_2016-12-01_7e80b6d0-b8c0-46e3-8d33-1eeededb1071.pdf
Capital/Financing Update
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ABN 62 009 816 871 Zicom Group Limited
38 Goodman Place, Murarrie, Queensland 4172 • Tel: (07) 3908 6088 • Fax: (07) 3390 6898
2 December 2016
Market Announcement Office Australian Securities Exchange Level 6, 20 Bridge Street SYDNEY NSW 2000
Dear Sir,
Investment in New Medical Technology Start-up
Endofotonics Pte Ltd
We are pleased to announce that the Group’s wholly owned subsidiary, Zicom MedTacc Pte Ltd (“MedTacc), an appointed Medtech Accelerator, has, jointly with SPRING Singapore, made an initial investment of S$2m in a growth phase medical technology start-up, Endofotonics Pte Ltd (“Endofotonics”).
The Group plans to participate in follow-up investments which will potentially make Endofontonics an associate company.
Endofotonics Pte Ltd is founded by accomplished gastroenterologist and academic leader Prof Lawrence Ho of National University Hospital, Singapore and an expert in bio-photonics and bio-imaging, Associate Prof Huang Zhi Wei of the University of Singapore. Their invention, the Endofotonics IMDX system is built on the Raman Spectroscopy technique – a vibrational technique capable of probing biomolecular changes associated with cellular transformation when tissue molecules were ‘excited’ by laser light directed at the tissue. To date, Endofotonics has built two systems, deployed the systems in clinical settings and demonstrated ability for in-vivo molecular diagnosis of even pre-cancerous tissues in more than 500 patients undergoing endoscopic examinations across diverse cancer types like stomach, oesophagus, colon, rectum, head and neck, and cervix. Preliminary data indicates diagnostic accuracy, sensitivity and specificity of more than 90% in gastric dysplasia, gastric cancer and oesophageal cancer.
This investment has been fully funded from internal resources without external borrowings. It is part of the Group’s strategy of expansion into new innovations and technologies with focus on medical technologies.
The Board does not expect the investment to have any immediate impact on the Group’s earnings in the short term.
Yours faithfully Zicom Group Limited
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-------------------------------G L Sim Chairman
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