NetScientific PLC ProAxsis is awarded a European CE Mark (6606P)
04 September 2017 - 4:00PM
UK Regulatory
TIDMNSCI
RNS Number : 6606P
NetScientific PLC
04 September 2017
NetScientific plc
("NetScientific" or the "Company" or the "Group")
ProAxsis is awarded a European CE Mark for their NEATstik(R)
point-of-care lung inflammation monitoring test
London, UK - September 4(th) 2017 - NetScientific plc
("NetScientific", AIM:NSCI), the transatlantic healthcare IP
commercialisation group, announces an update for its portfolio
company, ProAxsis. ProAxsis today announced that the product
development process for NEATstik(R), a novel point-of-care test for
measuring active neutrophil elastase, is complete and, having
successfully registered the product with a CE Mark, ProAxsis is now
able to initiate sales of the NEATstik(R) throughout Europe.
Commenting on the news, Francois Martelet, Chief Executive
Officer of Netscientific and Chairman of ProAxsis, said: "We are
very excited to announce that ProAxsis has successfully completed
the development phase of its lead product, the NEATstik(R) which
utilises the company's novel ProteaseTag(R) technology. We believe
the award of the CE mark represents a pivotal moment for the
commercial development of ProAxsis and will catalyse sales and
therefore near term value creation for the group."
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 Jessica netscientific@consilium-comms.com
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 registers European CE Mark for first neutrophil
elastase point-of-care test
Date: September 4th, 2017
ProAxsis Ltd today announces that the company has completed the
development process for NEATstik(R), a novel point-of-care test for
measuring active neutrophil elastase, and has successfully
registered the product with a CE Mark. This allows the company to
sell the product throughout Europe.
NEATstik(R) is a first-in-class diagnostic tool for the
monitoring of lung inflammation and infection in patients with
respiratory diseases such as COPD and bronchiectasis. COPD is known
to affect in excess of 24 million patients in Europe alone.
NEATstik(R) utilises the company's proprietary ProteaseTag(R)
technology, which permits specific and sensitive capture of only
the active form of neutrophil elastase, and complements the
laboratory-based Active NE Immunoassay, which was registered with a
CE Mark in 2016.
Professor Mona Bafadhel of the Department of Respiratory
Medicine at the University of Oxford, highlighted, "Respiratory
exacerbations have a significant impact on both the patient's
long-term well-being and the health service caring for them. It is
vital that new tools such as NEATstik(R) are developed which enable
us to monitor the ongoing respiratory status of patients."
Dr David Ribeiro, CEO of ProAxsis, said, "The point-of-care
market was valued at $23.5 billion in 2016 and is expected to reach
approximately $40.5 billion by 2022. We are very grateful, both to
our excellent development partners, and to the investors and other
innovation funders who have supported this extensive development
programme. The CE Mark registration
of NEATstik(R) represents the most significant milestone
achievement to date for ProAxsis."
To find out how ProAxsis can support the measurement of active
protease biomarkers of disease, or for any further queries, please
contact 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 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. The rapid and
easy-to-use 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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