NetScientific PLC Positive new data demonstrates NEATstiks potential (6716A)
31 May 2019 - 4:00PM
UK Regulatory
TIDMNSCI
RNS Number : 6716A
NetScientific PLC
31 May 2019
NetScientific plc
("NetScientific" or the "Group")
New data demonstrates NEATstik's potential as a rapid bacterial
monitoring tool in lung disease
Published in the European Respiratory Journal
London, UK - 31 May 2019 - NetScientific plc ("NetScientific",
AIM: NSCI), the transatlantic healthcare IP commercialisation
group, announces that its portfolio company ProAxsis Limited
("ProAxsis") has received positive early data from the BRIDGE([1])
study, a major clinical trial funded by the British Lung Foundation
(BLF) and the European Respiratory Society (ERS)([2]) .
Ian Postlethwaite, CEO/CFO of NetScientific, said:
"This encouraging data published in the renowned European
Respiratory Journal demonstrates ProAxsis' ability to monitor
bacterial infections in real time in patients suffering from lung
diseases. NEATstik(R) has the potential to provide clinicians with
a test identifying those at risk of further exacerbations providing
more targeted care. We believe that ProAxsis has the potential to
become a significant player in the growing point-of-care
respiratory testing market."
NetScientific's shareholding in ProAxsis is 56.5% (fully diluted
being 54.0%).
The full text of the announcement released by ProAxsis can be
found below.
***
Positive early data from the BRIDGE study, a three-year 1000+
patient study in bronchiectasis funded by the British Lung
Foundation (BLF) and the European Respiratory Society (ERS), has
been published in the latest edition of the European Respiratory
Journal* and demonstrates the potential for NEATstik(R), a
point-of-care test developed by Belfast-based ProAxsis Limited
(www.proaxsis.com), to be used as a rapid primary monitoring tool
for lung diseases.
The pan-EU study is exploring novel biomarkers to demonstrate
what they can add to clinical practice. In the publication, the
NEATstik(R) result has been correlated with the severity of lung
disease, presence of bacterial infection and risk of future
clinical worsening (exacerbations). Furthermore, NEATstik(R) was
able to replicate the results of existing tests for chest
infections in people with bronchiectasis within only ten minutes,
providing a rapid sample-to-result test that can potentially
support appropriate usage of antibiotic therapy. The study, led by
Professor James Chalmers, from the University of Dundee, concludes
that using NEATstik(R) can assist clinicians in identifying lung
disease patients with bacterial infections as well as those
patients at highest risk of experiencing significant clinical
worsening over the subsequent 12 months.
The promising data on the performance of NEATstik(R) is
announced for the first time in this publication and is the subject
of a separate joint announcement from the BLF and the University of
Dundee (www.blf.org.uk/media-centre/press-releases) .
Commenting on the publication, Dr David Ribeiro, CEO of
ProAxsis, said:
"We're delighted that NEATstik(R) has performed so effectively
in this critically important study and we look forward to
continuing to collaborate with this group of expert clinicians to
maximise the availability of this novel test for centres caring for
patients with chronic respiratory diseases."
Any queries concerning NEATstik(R), 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
***
For more information, please contact:
NetScientific Tel: +44 (0)20 3514 1800
Ian Postlethwaite, CEO / CFO
WHIreland (NOMAD, Financial Adviser and Tel: +44 (0)20 7220 1666
Broker)
Chris Fielding / Jessica Cave
About NetScientific
NetScientific PLC is a transatlantic healthcare IP
commercialisation Group focused on technologies and companies that
have the potential to treat chronic disease and significantly
improve the health and well-being of people.
For more information, please visit the website at
www.NetScientific.net
About ProAxsis Limited
ProAxsis is utilising its proprietary ProteaseTag(R) technology
to develop a range of products for the measurement of active
protease biomarkers of diseases. The company has already launched
activity-based immunoassays for both neutrophil elastase and
proteinase 3, as well as a rapid point-of-care test for neutrophil
elastase (NEATstik(R)). 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 Belfast.
This announcement contains certain forward-looking statements
that are based on current expectations or beliefs, as well as
assumptions about future events. By their nature, these statements
involve risk and uncertainty because they relate to future events
and circumstances. Actual outcomes and results may differ
materially from any outcomes or results expressed or implied by
such forward looking statements. Any forward-looking statements
made by or on behalf of the Group are made in good faith based on
the information available at the time the statement is made. No
representation or warranty is given in relation to these
forward-looking statements, including as to their completeness or
accuracy or the basis on which they were prepared, and undue
reliance should not be placed on them. The Group does not undertake
to revise or update any forward-looking statement contained in this
announcement to reflect any changes in its expectations with regard
thereto or any new information or changes in events, conditions or
circumstances, save as required by law and regulations. Nothing in
this announcement should be construed as a profit forecast.
[1] The BRIDGE study - Bronchiectasis Research Involving
Databases, Genomics and Endotyping to match the right treatment to
the right patient.
[2] Shoemark et al (2019) ERJ
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCZMGFKVGNGLZM
(END) Dow Jones Newswires
May 31, 2019 02:00 ET (06:00 GMT)
Netscientific (LSE:NSCI)
Historical Stock Chart
From Apr 2024 to May 2024
Netscientific (LSE:NSCI)
Historical Stock Chart
From May 2023 to May 2024