Projects } TBK Capital

Pictor – International expansion

Last month we issued an Opportunities newsletter advising readers that demand for this investment has led to the Promoters making more shares in the business available to our readers.

Last month we issued an Opportunities newsletter advising readers that demand for this investment has led to the Promoters making more shares in the business available to our readers.
Since so much has taken place since then, including the pandemic coming closer to home, I thought I should update you on progress that confirms Pictor’s international market, and will enable further early revenue from these sources.
The recurring nature of the Covid19 pandemic has led to Pictor to launch two versions of its COVID-19 IgG antibody test to expand its already large market reach:

  • For the India market, where most of labs are small - and for use in other markets in developing countries where there is little centralised large laboratory operations - a membrane 16 well version with PictImager + Reader; and 

  • for the U.S. and other markets where high throughput is required, a 96 well plate version with the Scienion Reader or the PictImager96+ Reader.

Meanwhile positive COVID-19 samples have arrived from Germany and will now be used to optimise and validate the Pictor’s tests.  These will also be used to establish initial cut offs to establish positive and negative results. 
A U.S. based consultant is also sourcing positive COVID-19 samples for Pictor from U.S. labs.  These will be used in the alpha trial to be done at Pictor, which has an agreement with 2 U.S. labs to do clinical trials.  A third laboratory there is currently being sought to meet the continuing large demand. 
Early entry into this U.S. market will be assisted through the so called LDT (Laboratory Developed Test) pathway.  The paperwork for this has been prepared for submission.  The LDT test would enable Pictor to supply printed assay plates to LDT labs following a pending alpha trial at Pictor. 
Pictor is now concluding an agreement with a laboratory in India to do the external testing required which will enable the import license for the test to be granted there.  Meanwhile a detailed protocol for a pilot trial with Pictor’s test has been prepared for submission to the New Zealand Ministry of Health. 
The Company is also in discussions with the international vaccine alliance, GAVI, on undertaking a pilot trial to demonstrate how Pictor’s test can be used to identify persons who will only require one vaccination. 
New Zealand Offer
The project is already starting to receive publicity here. And as a result of this - and the interest in international businesses from New Zealand investors - the Directors decided to increase the original Offer here in New Zealand to raise $7,000,000 at the same $1.25 share price.
The Information Memorandum for this revised Offer is now available, as are a slide deck describing the business, and updated financial forecasts. For copies of these reply to this email and please include your phone number.

The above investment is not an offer of financial products that requires disclosure under the Financial Markets Conduct Act 2013 (Act) and is available only to wholesale investors as defined by that Act. It is intended for distribution only to selected people to whom, under the relevant laws, it can be lawfully distributed. It cannot be distributed in any other jurisdiction, or to any other people. It is not an offer or solicitations in any jurisdiction in which such offers or solicitations are not authorised, or in which the person making such offers or solicitations are not qualified to do so, or to any person to whom it is unlawful to make such offers or solicitations. Any representation to the contrary would be unlawful. No action has been taken by any person that would permit a public offering in any jurisdiction where action for that purpose would be required.


John Paine B.Sc., Dip BIA
TBK Capital Limited
Level 10,120 Albert Street
Auckland 1010, New Zealand
Phone +64 9 307 3257
Mobile +64 21 902 901


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