NetScientific plc (AIM:NSCI) agreed to acquire remaining 43.6% stake in ProAxsis Ltd from Qubis Limited and the founders (sellers) for £0.23 million on October 16, 2020. The consideration of £0.23 million is payable in cash. In parallel, the key patent has been assigned by the sellers. In the year ended December 31, 2019, ProAxsis generated revenues of £0.73 million, loss after taxation of £0.18 million and net liabilities of £2.4 million. Post-closing, ProAxsis will be fully consolidated within the Group, with no amounts included with non-controlling interests and operate as a separate subsidiary. Chris Fielding and Darshan Patel of WH Ireland Limited acted as the NOMAD, financial advisor and broker for NetScientific plc.