TIDMNSCI

NetScientific PLC

30 September 2016

NetScientific plc

("NetScientific" or the "Company" or the "Group")

ProAxsis Gains CE Mark for its Respiratory Test

   -     CE Mark allows ProAxsis to begin commercialisation in Europe

London, UK - 30 September 2016 - NetScientific plc ("NetScientific", AIM:NSCI), the transatlantic healthcare IP commercialisation Group, announces that its portfolio company, ProAxsis, has successfully registered a CE Mark to enable commercialisation of its novel ProteaseTag(R) Active Neutrophil Elastase Immunoassay.

Commenting on the news, François R. Martelet, Chairman of ProAxsis and Chief Executive Officer of NetScientific, said: "We are delighted that ProAxsis has achieved a significant milestone in successfully CE marking its novel ProteaseTag(R) Active Neutrophil Elastase Immunoassay for chronic respiratory diseases. This will help accelerate its commercialisation in the COPD and Cystic Fibrosis markets.

"ProAxsis is now able to sell its immunoassay in the 28 member states of the European Union, as well as Switzerland, Turkey, Iceland, Norway and Liechtenstein. Achieving CE Mark for its immunoassay demonstrates the Company's clear commitment to delivering first-class quality products to physicians and their patients who suffer from chronic respiratory diseases."

The full text of the announcement issued by ProAxsis on 29 September 2016 is as follows:

ProAxsis gains CE Mark for Active Neutrophil Elastase Immunoassay

ProAxsis Limited (www.proaxsis.com) is pleased to announce that it has successfully registered a CE Mark for its novel ProteaseTag(R) Active Neutrophil Elastase Immunoassay. Neutrophil elastase is a well-recognised biomarker of lung inflammation and infection in chronic respiratory diseases such as Chronic Obstructive Pulmonary Disease (COPD), cystic fibrosis and bronchiectasis. The registration of a CE Mark indicates that the ProteaseTag(R) Active Neutrophil Elastase Immunoassay complies with EU legislation, and enables the company to commercialise the Immunoassay throughout the European market.

Commenting on the news, Dr David Ribeiro, CEO of ProAxsis, said: "This is a very proud day for everyone at ProAxsis, with the successful registration of our first CE Mark. We have already had enquiries from a number of pharmaceutical companies concerning the commercial use of our ProteaseTag(R) Active Neutrophil Elastase Immunoassay in their upcoming clinical trials, and look forward to making the assay more widely available to the respiratory community now that it has its CE Mark. I would particularly like to acknowledge the work of Dr Charlene Robb, who has led the regulatory efforts that have enabled us to reach this significant milestone."

Any queries concerning ProAxsis' Immunoassay for measuring active neutrophil elastase, or any requests for support with measuring other active protease biomarkers using the Company's proprietary ProteaseTag(R) technology, can be directed to info@proaxsis.com.

- Ends -

For more information, please contact:

 
  NetScientific                            Tel: +44 (0)20 3514 1800 
   François R. Martelet, 
   M.D., CEO 
   Ian Postlethwaite, CFO 
  Consilium Strategic                      Tel: +44 (0)20 3709 5700 
   Communications                 netscientific@consilium-comms.com 
   Mary-Jane Elliott / 
   Chris Gardner / 
   Jessica Hodgson / Chris 
   Welsh / 
   Laura Thornton

About NetScientific Plc

NetScientific is a transatlantic healthcare IP commercialisation group focused on improving the health and well-being of people with chronic diseases.

For more information, please visit the website at www.netscientific.net

About ProAxsis Limited

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(R); smart molecules which trap an active protease within a complex biological sample and enable a visual readout of its presence. ProteaseTags(R) provide a unique tool to identify and quantify active protease biomarkers and will assist in the clinical validation of new therapeutics.

ProAxsis is part of the NetScientific Group and is one of the Group's core portfolio companies. The company is also supported by QUBIS, the commercialisation arm of Queens University.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 30, 2016 02:02 ET (06:02 GMT)

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