- Fieldworks funding round exceeds target
- Pulsiv makes heavyweight appointments
- Frontier IP’s share price on 57 per cent discount to NAV
The 24-month bear market in Aim-traded shares has not only led to a 44 per cent decline in the FTSE Aim-All Share index, but it has created some eye-watering deep value opportunities to exploit. Edinburgh-based Frontier IP (FIPP:38p), a technology investment company that provides commercialisation services to university spin-outs in return for ‘free equity’ stakes, falls firmly into this category.
To put the scale of its undervaluation into perspective, the group’s last reported net asset value (NAV) of £49mn (88.2p) is 132 per cent higher than its £21.1mn market capitalisation even though Frontier held net cash of £5.85mn (10.5p) at the start of 2023. Since then, it has sold down £1.5mn shares in Nasdaq-listed Exscientia (US:EXAI), a clinical-stage pharma technology company pioneering the use of artificial intelligence (AI) to design new drugs. Frontier still holds 0.49mn Exscientia shares worth $2.7mn (£2.2mn).