Further update re Paraytec Limited

RNS Number : 8229C

Braveheart Investment Group plc

23 June 2021

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

23 June 2021

Braveheart Investment Group plc

("Braveheart" or the "Group")

Further update re Paraytec Limited

Further to the announcement on 4 May 2021, Braveheart Investment Group plc (AIM: BRH), is pleased to provide an update concerning progress to develop a COVID-19 test that Paraytec Limited ("Paraytec" or the "Company") is working on in conjunction with the University of Sheffield.

In clinical analyses, over 120 patient nasopharyngeal swab samples have now been successfully analysed using the Paraytec test. In the laboratory, the Paraytec test achieved 94% sensitivity and 100% specificity.  

A key advantage of the Paraytec test is its potential to distinguish between intact viral particles and residual RNA fragments. It is known that RNA fragments are present in nasal and pharyngeal epithelial cells and can yield a positive PCR test result for several weeks after peak viral load has passed.

The Paraytec team has developed a new method to determine the proportion of RNA that is encapsulated within viral particles in clinical samples, compared with total RNA that includes non-infectious RNA fragments. This method will allow the team to refine its analysis of test performance for operational sensitivity.  Following discussions with CONDOR (COVID-19 National DiagnOstic Research and Evaluation Platform) representatives, this method will also be used to demonstrate the Paraytec test's ability to identify infectious individuals. 

As planned, Braveheart has engaged specialist consultants to identify and target a very broad range of commercial partners for the Paraytec technology. In parallel, Braveheart and Paraytec have commenced discussions with potential partners who have wide experience COVID-19 testing.

For further information:

Braveheart Investment Group plc	Tel: [phone]
Trevor Brown CEO
Allenby Capital Limited (Nominated Adviser and Joint Broker)	Tel: [phone]
David Worlidge / James Reeve / George Payne
Peterhouse Capital Limited (Joint Broker)	Tel: [phone]
Heena Karani / Lucy Williams

 

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