An Izon Science listing has been pushed down the track after the company secured a $10.5 million investment from private equity firm Bolton Equities.

"We had started preparing for a possible listing prior to this investment, and that is still an option, but it would now be a few years down the track," said Hans van der Voorn, chief executive of the nanotech company, noting that he remains "very supportive" of the NZX.

The company had said it planned to list as early as April.

The Christchurch-based company, which has offices in the UK, Boston and Lyon, is the world leader in isolating particles in the nano size range, which are then studied for their role in a range of health conditions and major diseases.

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Bolton Equities – a New Zealand private equity investor founded by local businessman Murray Bolton – has taken a 30.4 per cent stake in the company, according to Companies Office filings.

Chief executive Chris Dineen and director and president of North America Guy Bolton have been appointed to Izon's board, along with Merryn Tawhai, deputy director of the Auckland Bioengineering Institute.

New chairman

Tony Barclay, former Fisher & Paykel Healthcare chief financial officer and company secretary, has been named independent chairman, replacing van der Voorn.

"We're delighted to have attracted Tony as our new chairman as his extensive background is highly relevant to Izon," said van der Voorn.

Barclay said: "I recognise similar characteristics in the company to Fisher & Paykel Healthcare; the company is developing impressive technology that is helping move science forward globally to improve lives."

According to van der Voorn, Izon has also seen increasing interest in the application of its technology in virology as researchers around the world seek to better understand Covid-19 and other viruses by using information on virus characterisation and concentrations derived from using Izon's nano-tech tools.

Heightened interest in virology and diagnostics and therapeutic drug development will benefit the company longer-term, he said.

- BusinessDesk

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