Fund Manager Summary
The fund managers believe there is a significant opportunity for Bluechiip Ltd as it undertakes a strategic review following a recent capital raise of $0.7m. In their opinion, this funding will facilitate a cost-out program and the exploration of strategic partnerships or a potential sale of the business, targeting interested parties in North America and Europe. While they maintain confidence in BCT's patented technology and its commercial potential, the fund managers acknowledge the challenges posed by a weak funding position and a prolonged sales cycle, worsened by COVID-related interruptions. They support the company's initiative to seek a buyer or strategic investor, believing this could yield a superior outcome for investors.
Source: Trading View
Commentary From The Managers
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Saville Capital
31 Dec 2024
Unknown
Summary
- Saville Capital updates their investment thesis on Bluechiip Ltd (BCT).
- Bluechiip has announced a significant licence, development, and supply agreement with BioLife Solutions, a market leader in bioproduction tools.
- BioLife will integrate BCT’s unique technology into its proprietary primary packaging containers for the Cell and Gene Therapy (CGT) market.
- This partnership signifies a major milestone for BCT, promising ongoing royalties and product sales as products reach the market.
- BioLife's tools support numerous clinical applications, essential for maintaining the viability of biologics.
- The agreement includes an upfront license fee from BioLife of US$300k for the first year.
- BioLife will pay quarterly licence or royalty fees on BCT-enabled products, ensuring future revenue streams.
- BioLife will have exclusive global use of BCT technology in primary containers for CGT manufacturing.
- Exclusivity does not apply to standard BCT products across multiple applications or existing products.
- The incorporation of BCT technology is valued up to US$750k in BioLife’s packaging containers.
- BioLife will also have nonexclusive access to distribute BCT’s existing product range, with assistance from BCT's team.
- The Chairman and CEO of BioLife stated that BCT's technology can help differentiate their products in critical environments.
- Saville Capital believes this agreement validates BCT’s product suite and ensures much-needed upfront and ongoing revenue.
- Bluechiip continues engaging with equity providers to strengthen its balance sheet before resuming trading on the ASX.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Saville Capital
31 Dec 2024
Unknown
- Saville Capital updates their investment thesis on Bluechiip Ltd (BCT).
- Bluechiip has announced a significant licence, development, and supply agreement with BioLife Solutions, a market leader in bioproduction tools.
- BioLife will integrate BCT’s unique technology into its proprietary primary packaging containers for the Cell and Gene Therapy (CGT) market.
- This partnership signifies a major milestone for BCT, promising ongoing royalties and product sales as products reach the market.
- BioLife's tools support numerous clinical applications, essential for maintaining the viability of biologics.
- The agreement includes an upfront license fee from BioLife of US$300k for the first year.
- BioLife will pay quarterly licence or royalty fees on BCT-enabled products, ensuring future revenue streams.
- BioLife will have exclusive global use of BCT technology in primary containers for CGT manufacturing.
- Exclusivity does not apply to standard BCT products across multiple applications or existing products.
- The incorporation of BCT technology is valued up to US$750k in BioLife’s packaging containers.
- BioLife will also have nonexclusive access to distribute BCT’s existing product range, with assistance from BCT's team.
- The Chairman and CEO of BioLife stated that BCT's technology can help differentiate their products in critical environments.
- Saville Capital believes this agreement validates BCT’s product suite and ensures much-needed upfront and ongoing revenue.
- Bluechiip continues engaging with equity providers to strengthen its balance sheet before resuming trading on the ASX.
Summary
Saville Capital
30 Sept 2024
Unknown
- Saville Capital continues to hold its position in Bluechiip Ltd.
- The company is currently engaged in a strategic review process to evaluate its future direction.
- BCT is in detailed discussions with multiple international companies to formalize proposals for board review.
- Recently announced a significant customer acquisition in the US market, including an initial contract execution.
- Saville Capital remains cautiously optimistic about the outcomes of the strategic review.
- A successful review could positively impact the overall performance of the Fund.
Summary
Saville Capital
30 June 2024
Unknown
- BCT undertook a placement and obtained a shareholder loan to raise ~$0.7m during the quarter.
- Funds are being used to enable a thorough strategic review, which includes a significant cost-out program.
- Exploration of strategic partnerships, investments or a possible sale of the business targeting interested parties in North America and Europe.
- Saville Capital remains firm in its belief in BCT’s patented technology and its commercial potential.
- Persistent weak funding position and elongated sales cycle has placed the Company in a challenging position.
- Supportive of BCT's approach to find a potential buyer or corporate/strategic investor.
- Given the strength of BCT’s technology, this approach should lead to a superior outcome for investors.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"Navigating turbulent waters, it appears Bluechiip Ltd is at a crossroads, leveraging its innovative technology to attract strategic partners or buyers. While potential looms, the path ahead is fraught with challenges that could redefine its future."
Last Updated: 31 Dec 2024
Query The Data
Frequently Asked Questions
Who is investing in Bluechiip Ltd (ASX:BCT)?
Fund managers including Saville Capital have invested in Bluechiip Ltd (ASX:BCT).
Why do fund managers invest in Bluechiip Ltd?
Fund managers have invested in Bluechiip Ltd due to its innovative patented technology and the potential for strategic partnerships or a sale. Despite challenges like weak funding and a prolonged sales cycle, they believe a thorough strategic review and cost-cutting measures could attract corporate investors, ultimately leading to better outcomes for shareholders.
What happened to Bluechiip Ltd (ASX:BCT)?
There have been no recent updates from fund managers regarding Bluechiip Ltd although fund managers including Saville Capital have previously commented.