Subsidiary, Glycotest collaboration with Oncimmune

RNS Number : 3461T

NetScientific PLC

03 October 2014

 



NetScientific plc

('NetScientific' or 'the Group')

NetScientific's subsidiary, Glycotest Begins a
New Research Collaboration with Oncimmune

Application of Combined Diagnostic Technologies Aimed at Improving
Early Detection of Liver Cancer

3 October 2014: NetScientific (AIM: NSCI), the global biomedical and healthcare technology group today announces its portfolio company Glycotest, Inc. has entered into a research collaboration with Oncimmune Ltd to explore the combined application of their proprietary tests in the early detection of liver cancer. 

Oncimmune has previously commercialised its proprietary autoantibody assay technology for the early detection of lung cancer with its EarlyCDT-Lung test and is now expanding this technology to the detection of liver cancer as well as other solid tumour cancers.  Glycotest is developing proprietary glycoprotein biomarkers and assay technology for the surveillance of serious liver diseases, including liver cancer. 

Liver cancer and chronic liver disease are global, life-threatening health issues that arise from chronic conditions such as non-alcoholic steatohepatitis (NASH), hepatitis B and C infections.  Each year more than 500,000 people die from liver cancer, the second leading cause of cancer deaths.  Early detection of liver cancer at a potentially curable stage remains an unmet diagnostic need.

Under the terms of the agreement, Glycotest and Oncimmune will conduct a joint clinical evaluation of their combined tests, which could then be co-developed as agreed by the collaborators.

Sir Richard Sykes, Chairman of NetScientific, said, "Today's announcement marks a key point in the validation of the Glycotest technology from the wider scientific community, and mirrors our statement at the recent half year results, that our subsidiaries are making significant progress.  Working closely with Oncimmune, we believe that Glycotest will make a meaningful contribution to this pioneering collaboration and look forward to updating shareholders further in due course."

Geoffrey Hamilton-Fairley, CEO of Oncimmune, added: "We believe that the most clinically valid and cost effective way to address the early detection of cancer is via two routes; through the further development of our proprietary autoantibody technology and its combination with other complementary technologies. We view Glycotest's biomarkers as potentially complementary and we are excited about collaborating with the team."

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About NetScientific

NetScientific is a global biomedical and healthcare technology groupthat funds and develops technologies that offer transformative benefits to people's lives and society through improved diagnosis, prognosis and treatment. For more information, please visit the website at www.netscientific.net.

About Glycotest

Glycotest, Inc., founded by NetScientific plc, is a spin out of the Philadelphia, Pennsylvania area institutions Drexel University College of Medicine and the Baruch S. Blumberg Institute. Glycotest is commercializing new diagnostic tests for the growing liver cancer market.

About Oncimmune

Oncimmune Ltd, based in Nottingham, UK, is committed to advancing early cancer detection through proprietary autoantibody assay technologies based on technology initially identified at Nottingham University. Oncimmune Ltd.'s mission is to develop early cancer detection tests to identify more than 90 percent of solid-tumor cancers.

Contact Details

NetScientific plc Farad Azima Peter Thoms	Tel: [phone]
Liberum (NOMAD and Broker) Chris Bowman / Christopher Britton / Thomas Bective	Tel: [phone]
Instinctif Partners Melanie Toyne-Sewell / Tim Watson	Tel: [phone] Email: [e-mail]

 

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