Sale process: closed, wallet still open
Nanoco Group has officially called time on its CDX sale process after shopping the business around and getting plenty of interest... just not the kind that comes with a firm offer. Instead of waiting for a white knight, the company says it’ll try to create more value the old-fashioned way: by backing the parts of the business that already look promising and trimming the fat.
Translation: fewer costs, more focus
The headline number here is the cash burn target. Nanoco wants gross monthly cash operating costs down to between £300,000 and £400,000, which is a pretty clear message that survival mode is getting a tune-up. For investors, that matters because lower burn buys time, and time is basically the currency of small-cap science stories.
The leadership shuffle
The boardroom is also getting a makeover. CEO Dmitry Shashkov is set to depart in February 2026, while Jalal Bagherli moves from non-executive chairman to executive chairman and Liam Gray steps in as interim CEO. On top of that, the non-executive board is being trimmed, with Dr. Alison Fielding and Dieter May due to step down in April 2026.
Not just playing defense
Nanoco also says it’s taking legal action against Shoei Chemical Inc. and Shoei Electronic Materials, Inc. over alleged intellectual property infringement. That means the company isn’t just tightening its belt—it’s still trying to squeeze value out of its tech and defend its turf.
Big picture: the sale process is dead, but the company isn’t. For investors, this is now a test of whether Nanoco can turn cost cuts, customer wins, and IP enforcement into something more durable than a “please buy us” storyline.