NetScientific PLC ProAxsis launches first-in-class ProteaseTag test (9521U)
04 Agosto 2015 - 3:00AM
UK Regulatory
TIDMNSCI
RNS Number : 9521U
NetScientific PLC
04 August 2015
NetScientific plc
ProAxsis launches first-in-class ProteaseTag(TM) test for Cystic
Fibrosis and Chronic Obstructive Pulmonary Disease
London, UK - 4 August 2015 - NetScientific portfolio company,
ProAxsis, a medical diagnostics spin-out from Queen's University
Belfast, has officially launched its proprietary first-in-class
ProteaseTag(TM) immunoassay kits to research labs and announces its
first two customer orders, including a major pharma company.
ProAxsis is developing a range of products for the capture,
detection and measurement of active protease biomarkers of
diseases. This test measures Neutrophil Elastase, a leading
indicator of infection in patients with Cystic Fibrosis (CF) and
Chronic Obstructive Pulmonary Disease (COPD) and an important drug
target. The rapid and easy-to-use tests incorporate patented
ProteaseTags(TM); smart molecules which trap an active protease
within a complex biological sample and enable a visual readout of
its presence. ProteaseTags(TM) provide a unique tool to identify
and quantify active protease biomarkers and will assist in the
clinical validation of new therapeutics.
ProAxsis is one of NetScientific's five core portfolio companies
that it highlighted at the time of its full year results in March.
The biomedical and healthcare technology group began investing in
the company in February 2014 to further develop and commercialise
its range of novel medical diagnostic tests. Now, with the launch
of its first-in-class immunoassay kit, ProAxsis will focus on
building its academic and pharma customer base and developing other
products for different indications.
David Gough, Chairman of ProAxsis, and Executive Director of
NetScientific, said: "The launch of the first ProteaseTag(TM)
immunoassay is a major milestone for ProAxsis. We believe there is
a huge potential demand for the Neutrophil Elastase test that could
significantly contribute to respiratory disease and infection
research. ProteaseTags(TM) also have the benefit of being
applicable to a wide pipeline of products targeting other diseases,
such as cancer and cardiovascular disorders, allowing ProAxsis to
access part of a multibillion dollar therapeutics market."
Dr Lorraine Martin, CEO of ProAxsis, said: "Our technology's
competitive advantages include higher sensitivity and specificity
in measuring active proteases in clinical samples than existing
methods, which is resonating with customers. Receiving our first
orders from two notable companies is a huge step forward for us and
we expect a good conversion of our current pipeline."
ProAxsis is also developing a point-of-care (PoC) NEATstik(TM)
test to measure active proteases in CF and COPD which will enable
the proactive management of these diseases with the aim of
improving patient outcome and reducing hospitalisations.
NEATstik(TM) will enable entry into the rapidly growing PoC market
that is estimated to be worth over GBP20 billion. The test has the
potential to revolutionise the management of respiratory diseases,
acting as an early monitoring device for patients to alert them of
a potential infection.
-Ends-
Notes to Editors
ProAxsis
ProAxsis is developing a range of products for the capture,
detection and measurement of active protease biomarkers of
diseases. The rapid and easy-to-use tests incorporate patented
ProteaseTags(TM); smart molecules which trap an active protease
within a complex biological sample and enable a visual readout of
its presence. ProAxsis also offers customers a highly experienced
team that can provide clinical research services in regard to the
specific measurement of active proteases within clinical samples as
well as target validation.
ProAxsis was named one of Northern Ireland's most promising
companies in 2013. It is also the only company in Northern Ireland,
and one of only a few in the UK, to have secured a prestigious
Horizon 2020 SME Instrument Award. For more information, please
visit: www.proaxsis.com.
NetScientific
NetScientific is a biomedical and healthcare technology group
that funds and develops technologies that offer transformative
benefits to people's lives and society through improved diagnosis,
prognosis and treatment.
For more information, please visit the website at
www.netscientific.net.
Contact Details
NetScientific Tel: +44 (0)20 3514
François Martelet, 1800
CEO
Peter Thoms, CFO
Tel: +44 (0)20 7597
Investec 4000
Gary Clarence / Daniel
Adams
Tel: +44 (0)20 7457
Instinctif Partners 2020 Email: netscientific@instinctif.com
Melanie Toyne-Sewell /
Jayne Crook / Rosanna
Forrest
This information is provided by RNS
The company news service from the London Stock Exchange
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