TIDMNSCI
RNS Number : 8052P
NetScientific PLC
22 February 2021
NetScientific plc
("NetScientific" or the "Company")
ProAxsis Update
ProAxsis Limited enters licensing agreement with top Swiss
University as it continues to develop novel new products in the
fight against fractures and other metabolic bone diseases
London, UK - 22 February 2021 - NetScientific plc (AIM: NSCI),
the life sciences and sustainability technology investment and
commercialisation Group, announces that its portfolio company
ProAxsis Limited ("ProAxsis") has announced that it has entered
into a global licensing agreement with the University of Geneva and
the University Hospital of Geneva, to develop new assays against
fractures and other metabolic bone diseases.
Researchers at the University have developed a highly novel
assay for a Cathepsin K-dependent periostin cleavage product, as a
biomarker of bone fragility related to disorders such as
osteoporosis. The technology is currently the subject of patent
applications in Europe and the US. As a result of this agreement,
ProAxsis will complete the technical validation of the assay, and
seek to commercialise the assay in key territories before the end
of 2021.
John Clarkson, Chairman of NetScientific and ProAxsis,
commented:
"It's great to see the continued progress with another step
forward in the planned strategy at ProAxsis. This agreement further
strengthens the company's customer offer in a target market. The
commercialisation potential, working alongside such a prestigious
partner, provides a further positive milestone for investors."
Speaking about the plans, Dr David Ribeiro, CEO of ProAxsis,
said:
"We believe this assay will allow the rapid non--invasive
identification of subjects at high risk of osteoporotic fractures
and potentially other metabolic bone diseases. This is an
incredibly exciting addition to our product portfolio and fits with
our business growth plans; including identifying and in-licensing
diagnostic tools which fulfil a high unmet need."
NetScientific holds 95% of ProAxsis on a fully diluted
basis.
The full text of the announcement from ProAxsis can be found
below.
# # #
ProAxsis (www.proaxsis.com), the Belfast-based diagnostics
company, and a collaboration of the University of Geneva and the
University Hospital of Geneva, today announce that they have
reached agreement on a global licensing agreement. Researchers at
the University have developed a highly novel assay for a Cathepsin
K-dependent periostin cleavage product, as a biomarker of bone
fragility related to disorders such as osteoporosis. The technology
is currently the subject of patent applications in Europe and the
US. As a result of this agreement, ProAxsis will complete the
technical validation of the assay, and seek to commercialise the
assay in key territories before the end of 2021.
Speaking about the plans, Dr David Ribeiro, CEO of ProAxsis,
said:
"We believe this assay will allow the rapid non--invasive
identification of subjects at high risk of osteoporotic fractures
and potentially other metabolic bone diseases. This is an
incredibly exciting addition to our product portfolio and fits with
our business growth plans; including identifying and in-licensing
diagnostic tools which fulfil a high unmet need."
Professor Serge Ferrari , Head of Bone Diseases at the
University of Geneva and one of the inventors of the assay
technology, said:
"Fragility fractures are a major clinical and public health
issue, yet identification of subjects at high risk of fracture
remains challenging. The high specificity of the Cathepsin K
digested periostin fragment for bone thus presents itself as an
ideal candidate to improve prediction of bone fragility."
Dr Jennifer Cadby, Licensing Officer at the University of Geneva
, added:
"We're delighted to have signed this agreement with ProAxsis and
are excited to combine the expertise of the groups in Geneva and
Belfast."
Any enquiries concerning ProAxsis' product portfolio can be
directed to info@proaxsis.com . F or further information on the
University of Geneva, please visit www.unige.ch
About ProAxsis
ProAxsis Limited is a commercial-stage diagnostics company,
based in Northern Ireland, and with a rapidly growing global client
list of pharmaceutical companies and academic laboratories. The
company has registered a CE Mark for activity-based immunoassays
targeting Neutrophil Elastase (NE) and Proteinase 3, as biomarkers
of lung infection and inflammation in chronic respiratory diseases
such as COPD, cystic fibrosis and bronchiectasis.
This technology has been translated into a point-of-care test
(NEATstik(R)), to enable ongoing monitoring of active NE levels.
Recently published data has shown that measuring active NE levels
using NEATstik(R) enables identification of patients with airway
bacterial infection and those patients at highest risk of suffering
pulmonary exacerbations over the subsequent 12 months.
In addition to proteases, the company also has significant
expertise in the measurement of other inflammatory biomarkers,
including IL-6, IL-8 and TNF-alpha. Grant-funded R&D funded
projects for a variety of targets remain a key area of focus.
Aside from the provision of assays, ProAxsis can offer sample
analysis at its purpose-built laboratory facility in Belfast and is
currently supporting a number of pharmaceutical company-sponsored
Phase I, II and III clinical trials.
ProAxsis became a fully owned subsidiary of Netscientific plc in
October 2020.
To learn more, please visit www.proaxsis.com .
About University of Geneva
Our University is recognized today as one of the top 100
universities in the world and the second largest innovative player
in Europe (Nature Index Innovation). We encourage
interdisciplinarity both in teaching and research, which has
garnered us worldwide recognition.
To learn more, please visit www.unige.ch.
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Anna Dunphy/ Nick Rome/ Paul McManus/ 07876 741 001 or 07748 325 236
Nicholas Johnson or 07980 541 893
or 07884 664 686
About NetScientific
NetScientific Plc is a life sciences and sustainability
technology investment and commercialisation Group, leveraging
trans-Atlantic relationships and global opportunities to deliver
shareholder value.
For more information, please visit the website at
www.NetScientific.net
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END
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