Braveheart Investment Group plc Further re Paraytec Limited (5021O)
June 01 2020 - 2:00AM
UK Regulatory
TIDMBRH
RNS Number : 5021O
Braveheart Investment Group plc
01 June 2020
1 June 2020
Braveheart Investment Group plc
("Braveheart" or the "Group")
Further re Paraytec Limited
Commencement of the project to develop a COVID-19 test with the
University of Sheffield
Further to the announcement dated 6 May 2020, the Company
announced that Paraytec Limited ("Paraytec"), a wholly-owned
subsidiary of Braveheart, was in discussions with the University of
Sheffield and Aptamer Group plc to define a project to develop a
rapid test for the pandemic pathogen, COVID-19. These discussions
have now successfully concluded, and the project will now commence
with Sheffield University, but without the involvement of Aptamer
Group plc, today.
The test will utilise a highly sensitive light-based detection
system coupled with a molecular "affinity" device to capture
COVID-19 virus particles. The required affinity macromolecule (an
aptamer which binds to the Spike glycoprotein on the surface of the
virus) is now being synthesised for Paraytec by a UK
university-based laboratory and will be supplied imminently.
Working with Professor Carl Smythe's group at the University of
Sheffield - which has expertise in the field of synthetic
bio-molecular sensors - the test will combine the use of the
COVID-19 capture aptamer with a biomolecular signal generator
configured to emit light in the presence of the pathogen, making it
visible to Paraytec's detector.
Paraytec will own all foreground IP generated by the
project.
The objective is to develop a portable test, which can generate
a result in a matter of minutes from a swab provided at the test
location and which requires no specialist skills for its operation.
If successful, it could be used in airports, transport hubs, large
workplaces and similar settings, where rapid screening of large
numbers of people for presence of COVID-19 or any future emerging
pandemic, is required.
Professor Smythe holds a personal Chair in Molecular Cell
Biology in the Department of Biomedical Science at the University
of Sheffield. Formerly Academic Director of the Sheffield Cancer
Centre, his research is focused on cellular quality control systems
monitoring chromosomal DNA. With 35 years' research experience, he
has, together with collaborators in academia and industry,
developed a wide range of sensor systems with applications in
disease testing.
For further information:
Braveheart Investment Group plc Tel: 01738 587555
Trevor Brown, Chief Executive Officer
Allenby Capital Limited (Nominated Adviser Tel: 020 3328 5656
and Joint Broker)
David Worlidge / Nicholas Chambers
Peterhouse Capital Limited (Joint Broker) Tel: 020 7469 0936
Heena Karani / Lucy Williams
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END
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