ProAxsis announces the approval of a key US patent

RNS Number : 9732P

NetScientific PLC

22 October 2021

 

NetScientific plc

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

ProAxsis announces the approval of a key US patent

 

ProAxsis makes significant progress towards measuring bone health with a new innovation for patients at high risk of osteoporotic fractures

London, UK - 22 October 2021 - NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group,  announces that its wholly owned subsidiary ProAxsis Limited ("ProAxsis") has received approval of a key US patent for the underlying technology associated with its brand-new K-POSTN Assay, which it intends to launch shortly.

This is a significant step towards measuring bone health with a new innovation for patients at high risk of osteoporotic fractures.

In partnership with the expert Bone Health team led by Professor Serge Ferrari at the University of Geneva, ProAxsis is creating a highly novel and patented bone-specific enzyme-linked immunoassay (ELISA) for the detection of serum K-POSTN, a fragment produced from the digestion of periostin (a type of protein that in humans is encoded by the POSTN gene) by cathepsin K which has localised activity in bone and has been shown to predict incident fractures independently of BMD and FRAX in post-menopausal women. 

Dr David Ribeiro, CEO of ProAxsis commented: "The K-POSTN assay has the potential to help Healthcare Professionals screen, identify and/or monitor people most at risk of osteoporotic fractures and other bone diseases, thus enabling early therapeutic intervention which will decrease the burden on the health service and increase quality of life for the patient.

"Furthermore, for Researchers and Pharmaceutical Companies seeking to develop new treatments for osteoporosis, the K-POSTN assay will deliver specific and quantifiable outcome measurements due to the rapid response shown by biomarkers to both anabolic and anticatabolic drugs."

John Clarkson, Chairman of NetScientific and ProAxsis, commented: " This is another significant step forward in the ProAxsis growth strategy roll-out; continuing the expansion of its product range, improving healthcare and progressing "the transatlantic bridge" into the US market and internationally."

NetScientific holds 95% of ProAxsis on a fully diluted basis.

The full text of the announcement from ProAxsis is available online here: https://proaxsis.com/measuring-bone-health-kpostn-assay/

For more information, please contact:

NetScientific	Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel	[phone]
Walbrook PR
Nick Rome/ Paul McManus/ Nicholas Johnson	07748 325 236, 07980 541 893 or 07884 664 686

About NetScientific

NetScientific plc (AIM: NSCI) is a holding company, that invests in, develops, commercialises and realises shareholder value in life sciences/healthcare, sustainability and technology companies, which offer significant growth potential predominately in the UK and USA, as well as globally. 

With the acquisition of EMV Capital in August 2020, the Group doubled its portfolio from 8 to 17 companies, either through direct subsidiary, balance sheet investment or capital under advisory, varying from start-up private companies to publicly listed equities. 

NetScientific delivers shareholder returns through a proactive and hands-on management approach to their portfolio companies; identifying, investing in, and helping to build game-changing companies. The Group targets value inflection points and the release of value through partial or full exits from trade sales, public listings, or equity sales. The Company has a strong transatlantic and growing international presence, providing attractive expansion prospects. 

NSCI can deploy a capital-light investment structure; utilising the power of the PLC Brand, and the NetScientific balance sheet to anchor future investments and achieve a multiplier effect by attracting 3rd party investment for the portfolio companies. 

NetScientific is headquartered in London, United Kingdom, and was admitted to trading on AIM, a market operated by the London Stock Exchange, in 2013 (website:  www.netscientific.net ).

About ProAxsis

ProAxsis Limited is a global diagnostics company, based in Northern Ireland, with a specific focus on active protease biomarkers. The company currently commercialises 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®), to enable ongoing monitoring of active NE levels.  Recently published data has shown that measuring active NE levels using NEATstik® enables identification of patients with airway bacterial infection and those patients at highest risk of suffering pulmonary exacerbations over the subsequent 12 months. 

The company has significantly expanded its product portfolio, via the recent in-licensing of a novel bone health assay from the University of Geneva, and a COVID-19 serology assay from AstraZeneca.

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.

 

END

 

 

NRAMZMZGGZNGMZM