May 17, 2023

Nanosynth goes bust Nanosynth, the UK nanoparticles specialist which creates products from the synthesis of nanoparticles, is to be wound up. ‘Properties of products can be enhanced for specific applications by exploiting functionality realised at the nanoscale. This is achieved through the inclusion of nanoparticles,’ says the nanosynth website, ‘nanosynth group use a patented technology to reproducibly synthesise and functionalise nanoparticles that are homogenous, giving confidence that every time a product is made, its properties will be consistent.’ The AIM-listed company had a market cap of $2.2 million. The company has been looking for fresh funding but has decided it is  unlikely to be forthcoming. A company statement yesterday said: “Further to its announcement on 6 April 2023, regarding the Company’s financial position, the board of nanosynth has pursued the potential funding options available to it and determined that these are unlikely to come to fruition within the required timeframe. Accordingly, after taking independent advice, the directors of the Company have concluded that the only available course of action in order to protect creditors is to commence the insolvent liquidation of the Company via an insolvency process called a Creditors’ Voluntary Liquidation.”