NetScientific PLC ProAxsis announces additional IP
May 10 2017 - 2:00AM
RNS Non-Regulatory
TIDMNSCI
NetScientific PLC
10 May 2017
("NetScientific" or the "Company" or the "Group")
Netscientific Announces that successful license by portfolio
company ProAxsis of additional intellectual property from The
Queen's University of Belfast
London, UK - 10 May 2017 - NetScientific Plc (AIM: NSCI,
"NetScientific", "the Group"), the transatlantic healthcare IP
commercialisation Group, announces that its portfolio company
ProAxsis has secured a second licensing agreement with the Queen's
University of Belfast for exclusive intellectual property rights
for its ProteaseTag(R) technology.
ProAxsis develops point of care diagnostics for the capture,
detection and measurement of active protease biomarkers of
respiratory disease. This technology enables the measurement of
active protease biomarkers of disease, strengthening ProAxsis's
intellectual property portfolio and is expected to support ProAxsis
in the development of additional point of care tests and
assays.
Commenting on the news, François R. Martelet, Chief Executive
Officer of NetScientific, and Chairman of ProAxsis, said: "ProAxsis
is approaching a point where it will be able to commercialize its
NEATstik point of care test based on the ProteaseTags(R)
technology. This agreement, which strengthens the Company's
intellectual property portfolio, puts ProAxsis in a great position
to launch further immunoassays and point of care tests and build
the value of this technology."
The full text of the announcement issued by ProAxsis
follows:
ProAxsis Limited (www.proaxsis.com) is delighted to announce
that it has secured a second licensing agreement with the Queen's
University of Belfast for exclusive intellectual property rights
for its ProteaseTag(R) technology. This technology enables the
measurement of active protease biomarkers of disease. Following its
spin out from Queen's in 2013, the two parties agreed an initial
licence for the first generation of ProteaseTags(R), enabling
ProAxsis to commercialise its first product. This laboratory-based
immunoassay for the measurement of neutrophil elastase as a
biomarker of lung infection and inflammation in chronic respiratory
diseases was successfully registered with a CE Mark in September
2016.
Commenting on the news, Dr. David Ribeiro, CEO of ProAxsis,
said: "Despite now being based in a new purpose-built laboratory at
Catalyst Inc., we continue to maintain strong links with Queen's,
and we're very pleased to have signed this licensing agreement.
These modified ProteaseTags(R) are more suited to some of our
ongoing protease biomarker targets and the company looks forward to
launching further immunoassays and point-of-care tests in the near
future."
Mr Brian McCaul, Director of Innovation at Queen's and CEO of
QUBIS Ltd commented: "ProAxsis remains strongly poised to transform
point-of-care diagnostics for chronic diseases. We are pleased to
continue to support one of our own spin out companies by licensing
out a new innovative technology which will enhance their current
product offering."
The technology behind the ProAxsis ProteaseTag(R) was initially
developed in the School of Pharmacy at Queen's, by a team led by
Dr. Lorraine Martin and Prof. Brian Walker. Further information on
research at Queen's can be found at www.qub.ac.uk/research.
Queries regarding ProAxsis' Immunoassay for measuring active
neutrophil elastase, or any requests for support with measuring
other active protease biomarkers using its proprietary
ProteaseTag(R) technology, can be directed to
info@proaxsis.com.
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 Ltd, the commercialisation arm of Queens University.
About the Queen's University of Belfast
Making a global impact through excellence in research and
innovation is central to Queen's research strategy. Queen's brings
together researchers across disciplines to address some of the
greatest societal challenges of our time. Queen's is ranked joint
8th in the UK for research intensity, is in the top 20 for research
quality and impact, and over 75 per cent of Queen's research was
rated as world class or internationally leading.
- Ends -
For more information, please contact:
NetScientific Tel: +44 (0)20 3514 1800
François R. Martelet,
M.D., CEO
Ian Postlethwaite, CFO
Stifel Nicolaus Europe Tel: +44 (0)20 7710 7600
Limited (NOMAD and broker)
Jonathan Senior/ David
Arch/ Ben Maddison
Consilium Strategic Tel: +44 (0)20 3709 5700
Communications netscientific@consilium-comms.com
Mary-Jane Elliott /
Jessica Hodgson / Chris
Welsh / Laura Thornton
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
This information is provided by RNS
The company news service from the London Stock Exchange
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