Calculus Capital is committed to providing the same level of service to our valued investors and advisers, and continuing to guide and support our portfolio companies, during this unprecedented time.
Our EIS Funds and VCT remain open for investment with a number of new deals about to be made over the coming weeks and months. If you have any specific issues or concerns please contact our Investor Relations team on 0207 493 4940, who will be happy to assist you.
Supporting our portfolio companies
Calculus Capital has been quick to take measures to safeguard our employees and our investments.
We have increased our dialogue with our portfolio companies and continue to provide them with operational support and advice, in relation to accessing various elements of the Government’s financial assistance packages as well as on measures to mitigate the impact of the current trading conditions.
We have conducted an initial review of the financial robustness of our portfolio in the current environment. Only a small number of our portfolio companies operate in industries which are more directly affected, such as travel, leisure and hospitality. Our portfolio is predominantly in areas such as healthcare and software and we remain positive about the long term areas of growth in these sectors.
A number of our portfolio companies are playing an important role in the fight against Coronavirus.
Calculus portfolio companies helping in the fight against Coronavirus
Mologic is developing a rapid test for Coronavirus. They have been awarded £1m of UK Aid to develop this test. On the back of this, the Prime Minister Boris Johnson visited Mologic’s lab in Bedfordshire in early March, where scientists are using expertise and experience from previous epidemics to create a quicker and cheaper way to diagnose coronavirus. This rapid test could mean results are provided in 20 minutes, and without the need of a medical professional or sending samples to labs for testing. Read more here.
Genedrive, has pivoted part of its core resources towards development of two SARS-COV-2 tests, which can determine whether someone is infected with coronavirus. Based on discussions with sizable third-party suppliers the company expects it could have the ability to ramp quickly to high production volumes of over 10,000 tests per hour. Read more here.
Yourgene Health PLC and Novacyt SA unveiled a contract manufacturing agreement for a Covid-19 diagnostic test. Under the deal, Yourgene will use its manufacturing facility in Manchester, UK, to ramp up production of Novacyt’s Covid-19 test, with the first batches to be shipped from the Manchester site in the next few weeks. Yourgene will initially make critical components for the Covid-19 test, but the companies may subsequently seek to expand the deal to use Yourgene’s capacity to produce final versions of the testing kits. Yourgene also said it is currently expanding its laboratory capability so it can support the UK’s National Health Service in Covid-19 laboratory testing.
Every1Mobile is using its technology and networks in sub-Saharan Africa by providing a COVID-19 digital portal to provide training and support for health workers and a behaviour change platform to improve COVID-19 outcomes as the virus spreads to Africa. It is exploring extension of these platforms with key donor organisations, including DFID and the Gates Foundation. Both of these will
allow rapid dissemination of accessible information at scale and the generation of real-time data on communities’ knowledge, attitudes and practices
Important Application Process Update
Due to the ongoing COVID-19 situation, we are changing our application process for the Calculus EIS Fund, Calculus VCT and UK Creative Content EIS Fund.
– We will only be accepting scanned application forms to [email protected]. If application forms are sent by post they will not be picked up. We will not be accepting cheques, only bank transfers.
– For advised application forms we will also require a copy of the client’s passport to be scanned, with the application form.