International law firm Simmons & Simmons has advised AIM-quoted NetScientific plc on its £18m placing and additional offer.
NetScientific plc is a transatlantic biomedical healthcare group focused on digital health, diagnostics and therapeutics. The fundraising is to be used primarily to accelerate the development of two of its lead portfolio companies, Wanda Health and Vortex BioSciences. Wanda Health provides a cloud-based clinical decision support software solution to help healthcare providers improve quality of out-patient care and reduce the cost associated with managing chronic diseases. Vortex BioSciences is a cancer diagnostic company, developing a novel liquid biopsy diagnostic instrument for circulating tumour cell enrichment, collection and analysis.

Commenting on the fundraising, partner Charles Mayo, said: "NetScientific’s strategy is to fund and develop technology that offers transformative benefits to people with chronic disease, and we greatly enjoy working with the NetScientific team and using our life sciences sector-based expertise to help them implement this strategy. After also supporting NetScientific on its previous AIM IPO in 2013, we were again delighted to advise the company on this important fundraising, at a time when two of its leading portfolio companies reach a critical stage in their development. "

The Simmons & Simmons team was led by partner Charles Mayo, assisted by associates Tim Wass and Kim Fowler and trainee Paddy Croft.