TIDMNSCI

RNS Number : 7687U

NetScientific PLC

27 October 2017

NetScientific plc

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

ProAxsis to initiate clinical trial partnership with National Jewish Health for its ProteaseTag(R) Technology in Cystic Fibrosis and Chronic Obstructive Pulmonary Disease Patients

London, UK - October 27(th) 2017 - NetScientific plc ("NetScientific", AIM:NSCI), the transatlantic healthcare IP commercialisation group, provides an update on its portfolio company ProAxsis, which today announces that it has entered into a clinical trial partnership with National Jewish Health ("NJH"), the leading respiratory hospital in the United States.

Under the agreement ProAxis and NJH will work together in validating ProAxsis' ProteaseTag(R) point-of-care technology for real-time management of small airway inflammation in a spectrum of respiratory diseases including cystic fibrosis and COPD.

Commenting on the news, Francois Martelet, Chief Executive Officer of NetScientific and Chairman of ProAxsis, said: "We are delighted to note this US partnership with National Jewish Health, one of the world's leading hospitals in respiratory disease. The partnership brings tremendous resources and expertise and validates ProAxsis' technology as a potential industry leader for respiratory diagnostics. Our portfolio company, ProAxsis is very excited to work closely with NJH as they continue to make commercial progress."

NetScientific holds a 57% stake on a fully diluted basis in ProAxsis.

The full text of the announcement from ProAxsis can be found below.

# # #

For more information, please contact:

 
  NetScientific                            Tel: +44 (0)20 3514 1800 
   François R. Martelet, 
   M.D., CEO 
   Ian Postlethwaite, 
   CFO 
  Consilium Strategic 
   Communications                          Tel: +44 (0)20 3709 5700 
   Mary-Jane Elliott /            netscientific@consilium-comms.com 
   Jessica Hodgson / 
   Chris Welsh / Laura 
   Thornton 
  Stifel Nicolaus Europe                  Tel: +44 (0) 20 7710 7600 
   Limited (NOMAD and Broker) 
   Jonathan Senior / David 
   Arch / Ben Maddison

ProAxsis to test ProteaseTag(R) Technology in Cystic Fibrosis and Chronic Obstructive Pulmonary Disease at National Jewish Health

Date: October 27th, 2017

ProAxsis Limited has contracted with National Jewish Health (NJH), the leading respiratory hospital in the United States, to validate ProAxsis Limited's ProteaseTag(R) point-of-care technology for real-time management of small airway inflammation in a spectrum of respiratory diseases including Cystic Fibrosis and COPD. ProAxsis' technology will allow clinicians to measure active Neutrophil Elastase as a potential predictor of chronic respiratory disease exacerbations and severity in COPD and cystic fibrosis, and offers a potential companion diagnostic for disease modifying agents. COPD affects more than 24 million Americans, and is the third leading cause of death. National Jewish Health is the #1 ranked Hospital in Respiratory Disease by US News and World Report 2017.

Commenting on the news, Dr David Ribeiro, CEO of ProAxsis, said: "National Jewish Health is a globally recognised leader in respiratory care and research, so this agreement brings tremendous resources and expertise to our effort to bring the ProteaseTag(R) technology to market in the US."

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

About NetScientific

NetScientific is a transatlantic healthcare technology group with an investment strategy focused on sourcing, funding and commercialising technologies that significantly improve 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. Its first immunoassay measures active neutrophil elastase, a leading indicator of infection and inflammation in patients with Cystic Fibrosis (CF), Chronic Obstructive Pulmonary Disease (COPD) and bronchiectasis, and an important drug target. A rapid point-of-care test for measuring neutrophil elastase, called NEATstik(R), was registered with a CE Mark in September 2017. The laboratory-based immunoassays and point-of-care tests being developed by ProAxsis 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

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October 27, 2017 02:00 ET (06:00 GMT)

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