NetScientific PLC ProAxsis Achieves CE Mark for Plasmin Immunoassay (1658B)

TIDMNSCI

RNS Number : 1658B

NetScientific PLC

08 January 2018

NetScientific plc

("NetScientific" or the "Company" or the "Group")

ProAxsis Achieves CE Mark and Launches its ProteaseTag(R) Active Plasmin Immunoassay

London, UK - January 8(th) 2018 - NetScientific plc ("NetScientific", AIM:NSCI), the transatlantic healthcare IP commercialisation group, provides an update on its portfolio company ProAxsis, which today announces that it has successfully registered a CE Mark for its ProteaseTag(R) Active Plasmin Immunoassay, which has potential application in a broad range of disease indications including lung disorders.

The Active Plasmin Immunoassay is the first CE-Marked test to enable the specific measurement of the active form of plasmin, the target protease which is widely believed to be involved in the pathogenesis of lung disorders such as idiopathic pulmonary fibrosis (IPF) and acute respiratory distress syndrome (ARDS).

Commenting on the news, Francois Martelet, Chief Executive Officer of NetScientific and Chairman of ProAxsis, said: "We are pleased to announce that ProAxsis has registered a third product with a CE Mark, as it continues to commercialise its growing portfolio of novel protease-targeting point-of-care tests. We are also particularly pleased to announce the first product launch with applications in both respiratory health and other disease states including pre-eclampsia, nephrotic syndrome and diabetes mellitus."

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: [phone] 
   François R. Martelet, 
   M.D., CEO 
   Ian Postlethwaite, 
   CFO 
  Consilium Strategic 
   Communications                          Tel: [phone] 
   Mary-Jane Elliott /            [e-mail] 
   Jessica Hodgson / 
   Chris Welsh / Laura 
   Thornton 
  Stifel Nicolaus Europe                  Tel: [phone] 
   Limited (NOMAD and Broker) 
   Jonathan Senior / David 
   Arch / Ben Maddison 
 

ProAxsis Launches ProteaseTag(R) Active Plasmin Immunoassay following CE Mark registration

Date: January 8th, 2018

ProAxsis Limited (www.proaxsis.com) today announces that it has successfully registered a CE Mark for its ProteaseTag(R) Active Plasmin Immunoassay. This novel technology will enable academic and pharmaceutical researchers to specifically measure only the active form of plasmin, a protease associated with fibrinolysis. It is believed that plasmin is involved in the pathogenesis of lung disorders such as idiopathic pulmonary fibrosis (IPF) and acute respiratory distress syndrome (ARDS). Plasmin activity is also dysregulated in several other disease states, including pre-eclampsia, nephrotic syndrome and diabetes mellitus. The registration of a CE Mark indicates that the ProteaseTag(R) Active Plasmin Immunoassay complies with EU legislation, and the company will immediately commercialise the Immunoassay through its existing network of respiratory contacts across Europe.

Commenting on the news, Dr David Ribeiro, CEO of ProAxsis, said: "This is the third product for which ProAxsis has been able to register a CE Mark, and we're delighted to add the ProteaseTag(R) Active Plasmin Immunoassay to our existing portfolio of products. As well as being a useful research tool, Plasmin continues to interest pharmaceutical companies as a potential therapeutic target in a range of different diseases. We expect to present data on this new assay at a major respiratory conference in the second half of the year, and look forward to expanding our range of products to enable the measurement of the active form of additional proteases during 2018."

Any queries concerning ProAxsis' Immunoassay for measuring active plasmin, or any requests for support with measuring other active protease biomarkers using the Company's proprietary ProteaseTag(R) technology, can be directed to [e-mail].

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 active 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. A rapid point-of-care test for measuring neutrophil elastase, called NEATstik(R), was registered with a CE Mark in September 2017. The laboratory-based immunoassays and point-of-care 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

PFUDDGDBSBGBGIR

(END) Dow Jones Newswires

January 08, 2018 02:00 ET (07:00 GMT)