Steve Rhodes 2015Steve Rhodes, Co-Chairman and Co-CEO of Trendlines Group. File photo.

TRENDLINES' share price has declined sharply from its IPO price but "it is not for any reason that relates to our business activities," said Todd Dollinger and Steve Rhodes, Co-Chairmen and CEOs of The Trendlines Group.

"We are laser-focused on building long-term value for our shareholders and completely confident of our business and corporate strategy," said the CEOs in an email reply to NextInsight.

"We will continue to drive our business forward by focusing on making the right investment decisions, building our companies, and getting the best possible results for our shareholders.

"This is an exciting time for Trendlines as we start the new year with growth activities underway that take our business model beyond Israel to Singapore and other countries while building our relationship with B. Braun and other multinational corporations.”


Trendlines, which is an early-stage investor in companies in the medical and agricultural life sciences sectors, listed on the Singapore Exchange at 33 cents on 26 November, and ended at 18.6 cents yesterday. 

The 44% fall looks excessive compared to the market's benchmark index decline of 8%. 

In addition, Trendlines' price-to-NTA ratio has now reached 0.79 compared to 1.4 at the time of its IPO.

According to Bloomberg, the average price-to-book ratio of seven selected peer companies (Allied Minds, IP Group and CK Life Sciences) is 2.84 as of Jan 14, 2016.


Todd Dollinger 26.11.2015Todd Dollinger, Co-Chairman and Co-CEO of Trendlines Group. File photo.Recent developments:

» Dec 15, 2015: Trendlines Medical received formal notice of the renewal of its incubator franchise for a period of eight years from January 1, 2016 to December 31, 2023, from the Office of the Chief Scientist of the Israel Ministry of Economy.

» Dec 7, 2015: Trendlines announced that it has established two new portfolio companies, namely Tandem Technologies and Zeev Implants, and the number of Trendlines’ portfolio companies has increased to 47.

Tandem Technologies is in the business of developing a unique device for more efficient removal and retrieval of polyps in the colon, while Zeev Implants is in the business of developing a modular dental implant.

» Dec 9, 2015: The Trendlines Group and Saviva Capital LLC signed a binding MOU to jointly submit an application through Israel’s Office of the Chief Scientist for the Trendlines Agtech technology incubator license.

Under the MOU, Saviva is to invest $9.2 million (ie, $4.2 million over 10 years in the incubator, and $5 million as direct investments in its technology start-ups in agriculture and food). 

In another development, a portfolio company of Trendlines -- medical device company ET View Medical. (TASE: ETVW) -- has attracted the interest of a possible acquirer. ET View announced on 7 Jan 2016: "A multinational medical equipment company recently expressed interest, and asked for information about the company for the purpose of assessing a possible acquisition of the company or its business. Confidentiality agreements were subsequently signed, and specific information was provided."


For more information, see Trendlines' Powerpoint presentation which was uploaded to the SGX website on 13 Jan 2016.

Steve Rhodes, Co-Chairman and Co-CEO of Trendlines, looks forward to meeting investors next Thursday to share insights into the company's business. If you are keen to attend, please see details below:

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Comments  

#1 Tan Leong Heng 2016-01-19 02:48
Name: Tan Leong Heng
Occupation: Director / Investor
(Hp): 9147-6669

Thank You.
 

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