By Anthony O. Goriainoff

Shares in NetScientific PLC rose Monday after it said it has successfully completed the evaluation of AstraZeneca PLC's Covid-19 antibody test.

Shares at 0725 GMT were up 13 pence, or 19%, at 82 pence.

The London-listed life sciences, technology, investment and commercialization company said its subsidiary, ProAxsis, completed the test's development and validation with "impressive performance evaluation results."

The company said the assay showed exceptional levels of sensitivity and specificity of 100% and 99.3%, respectively. Also, it was able to detect immunoglobulin G antibodies--the most common type of antibody found in blood--in blood samples from individuals who had been previously infected or vaccinated, and from individuals known to be infected by the Alpha, Delta and Omicron variants of the virus, the company said.

"This highly sensitive and specific test provides a significant enhancement to the company's commercial offering; further extending product range and reinforcing the continued international expansion. This fits well with NetScientific's trans-Atlantic bridges and global strategic plans," Chairman John Clarkson said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

May 16, 2022 03:55 ET (07:55 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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