NetScientific PLC ProAxsis appoints Diagenics Limited as Distributor
September 14 2017 - 1:01AM
RNS Non-Regulatory
TIDMNSCI
NetScientific PLC
14 September 2017
NetScientific plc
("NetScientific" or the "Company" or the "Group")
ProAxsis Appoints Diagenics Limited as Sales Distributor for the
UK and Ireland
London, UK - September 14(th) 2017 - NetScientific plc
("NetScientific", AIM:NSCI), the transatlantic healthcare IP
commercialisation group, announces an update for its portfolio
company, ProAxsis. ProAxsis today announces that it has appointed
Diagenics Limited as the distributor for its ProteaseTag(R) Active
Neutrophil Elastase Immunoassay in Great Britain and Ireland. The
appointment is expected to accelerate the commercial uptake of
ProAxsis' technology, increasing near-term sales potential for
ProAxsis.
Commenting on the news, Francois Martelet, Chief Executive
Officer of NetScientific and Chairman of ProAxsis, said: "We are
delighted to announce the build of commercial operations for
ProAxsis and we have high confidence in the platform of Diagenics
Limited to respond to the increase in demand for ProAxsis'
immunoassays given its strong market reputation. The expansion of
sales capabilities represents a critical milestone for ProAxsis and
brings our portfolio company closer to significant value
creation."
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 appoints first distributor for NE Immunoassay
Date: September 14, 2017
ProAxsis today announces that the company has appointed
Diagenics Limited as the distributor for its ProteaseTag(R) Active
Neutrophil Elastase Immunoassay in Great Britain and Ireland.
Founded in 1994, Diagenics supply high quality diagnostic products
to NHS and private hospitals, as well as University and industrial
biomedical research laboratories throughout the UK region.
Dr David Ribeiro, CEO of ProAxsis, said: "The ProteaseTag(R)
Active NE Immunoassay offers highly sensitive and specific
measurement of only the active form of neutrophil elastase.
Previously published work has shown that utilising the immunoassay
to measure active NE in patients with respiratory disease can help
to identify those at greatest risk of an impending pulmonary
exacerbation. Due to the increasing interest we've received for the
immunoassay, we've recently sought a commercialisation partner and
are delighted to have reached this agreement with Diagenics."
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.
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
END
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