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Description of business:
The acquisition of Cambridge Computed Imaging Limited ("CCI") and TexRAD Limited ("TexRAD") will result in a reverse takeover under AIM Rule 14. The business of the enlarged group, of which the main country of operation will be the UK, will be that of CCI and TexRAD. CCI was formed in 2001 by former employees of the Department of Radiology at Papworth Hospital (now Papworth Hospital NHS Foundation Trust) to provide picture archiving and communication systems (PACS) for the display, review, manipulation and archiving of medical images. TexRAD was spun out from the University of Sussex in 2011 and was established to develop textural analysis tools for the detection and measurement of quantitative imaging biomarkers within cancer tumours. CCI specialises in providing software that helps doctors use medical images in diagnosis and treatment. Since its foundation, CCI has focused on supporting the needs of Papworth Hospital, the UK's largest specialist cardiothoracic hospital, and other facilities where its software is used to support diagnosis, treatment planning, treatment response and knowledge sharing within multi-disciplinary teams. TexRAD offers an innovative quantitative tool to those researching the diagnosis, prognosis and treatment response of cancer. The technology enables quantitative textural analysis of heterogeneity to be found in routinely acquired clinical diagnostic images which could serve to risk stratify tumours and assist in response evaluation. Research customers have shown that using TexRAD's quantitative textural analysis, heterogeneity could further add value to existing markers of tumour size, density and perfusion as a quantitative imaging biomarker and potentially assist in clinical decision making by optimising care pathways for improved patient outcomes and provide cost-effective patient management. Both Tom Charlton and Trevor Brown are participating in the Subscription. In addition, Tom Charlton is a shareholder in CCI. The participation of Messrs Charlton and Brown in the Subscription and Mr Charlton's entry into the CCI acquisition agreement are related party transactions in accordance with the AIM Rules.

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