TIDMNSCI
RNS Number : 9458B
NetScientific PLC
16 January 2018
NetScientific Portfolio Update
London, UK - 16 January 2018 - NetScientific plc (AIM:NSCI), the
transatlantic healthcare IP commercialisation group, today
announces an update on its core portfolio. Over 2018 NetScientific
will continue the commercial and corporate development of all its
portfolio assets to maximise value.
Glycotest:
-- Glycotest successfully completed a clinical evaluation of its
HCC Panel for Hepatocellular Carcinoma (HCC), the most common form
of liver cancer.
-- Glycotest continues to work with its potential partner and
expects to close the Series A within Q1 2018.
-- Glycotest has begun planning for a further clinical
validation study and to move into the commercial phase, aiming to
make its first sale.
-- Glycotest plans to sign a service agreement with a CLIA lab
with the goal of commercialising its HCC Panel test as a clinical
lab testing service in the U.S.
Vortex Biosciences:
-- Vortex is focused on clinical assay development and beginning
clinical research studies utilising existing assays optimised for
use with CTCs, targeting lung cancer diagnostics. These include
EGFR mutation analysis, PDL-1 expression analysis and ALK FISH.
-- Vortex expects to make these assays available for use with
the output of the VTX-1 system during 2018.
-- Vortex is also aiming to develop partnerships with leading
diagnostic companies targeting the introduction of clinical assays
using novel biomarkers.
-- Vortex has placed three VTX-1 Liquid Biopsy Systems into
leading oncology institutions' research facilities, and will
continue to sell into the research market.
-- Vortex continues to build relationships with commercial
partners and investors in advance of targeting a Series A fundraise
or commercial partnership towards the end of H2 2018.
ProAxsis:
-- ProAxsis has expanded its contract with Diagenics, which is
currently selling the Neutrophil Elastase Immunoassay (NEIA), as
the distribution partner for the recently launched CE Marked
Plasmin Immunoassay across the UK and Ireland.
-- ProAxsis is aiming to build relationships with partners to commercially launch NEATstik(R).
-- ProAxsis plans further expansion of its product range,
including the launch of assays for the research market:
proteinase-3, cathepsin G, pancreatic elastase and a high
sensitivity NEIA.
-- ProAxsis is targeting GBP1m in revenue over 2018, with the
potential to become free cash flow positive over 2018. The revenue
generating projects will be reviewed in H2 2018 to determine
ProAxsis' financing requirements.
Wanda:
-- Wanda has begun to roll out its remote health management
technology to Chicago-based health group Health Resource Solutions'
patient network, and aims to expand this to all patients.
-- Wanda aims to initiate a number of new pilot studies to build
relationships with new partners, targeting Accountable Care
Organisations (ACOs), Managed Care Organisations (MCOs) and Health
Systems as well as Home Healths working with hospital systems. We
expect new data from these pilots will increase the analytical
ability of Wanda's machine learning algorithms to predict hospital
readmissions.
-- Wanda expects to transition the pilots initiated earlier in
the year to become full partners, further developing the
technological advantage of the Wanda platform.
-- Wanda continues to target a financing event during H2 2018.
PDS:
-- PDS has key partnerships with Merck & Co. and the National Cancer Institute.
-- PDS filed 3 new key patents in Q4 2017 which help bolster the company's patent position.
-- PDS aims to complete a financing in H2 2018, providing the
additional funds required to initiate several planned clinical
trials, including the collaboration with Keytruda, Merck's leading
checkpoint inhibitor.
Commenting on the news, Francois Martelet, Chief Executive
Officer of NetScientific, said:
"We are pleased to note that all of our core portfolio companies
continue to advance their commercial operations and are well
positioned for continued momentum as we move into 2018. We are
encouraged by the first commercial sales of Vortex's VTX-1 Liquid
Biopsy System and the continued expansion of ProAxsis' assay
portfolio.
"We look forward to continuing this progress with further
developments anticipated early in 2018, including the completion of
a Series A fundraising for Glycotest following the Company's recent
successful clinical trial results for its HCC panel for the
diagnosis of liver cancer."
For more information please contact:
NetScientific
François R. Martelet, M.D., CEO
Ian Postlethwaite, CFO
Tel: +44 (0)20 3514 1800
info@netscientific.net
Consilium Strategic Communications
Mary-Jane Elliott / Jessica Hodgson / Chris Welsh / Laura
Thornton
Tel: +44 (0)20 3709 5700
netscientific@consilium-comms.com
Stifel Nicolaus Europe Limited (NOMAD and Broker)
Jonathan Senior / David Arch / Ben Maddison
Tel: +44 (0) 20 7710 7600
About NetScientific:
NetScientific is an IP commercialisation group focused on
healthcare 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
This information is provided by RNS
The company news service from the London Stock Exchange
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