NetScientific PLC (LON:NSCI) said its portfolio company, ProAxsis today announced that it has signed a partnership agreement to develop activity-based immunoassays for two key respiratory proteases, utilising its novel ProteaseTag® technology.
The AIM-listed transatlantic healthcare IP commercialisation group said in a statement that ProAxsis’s unnamed partner is a large biotechnology company, headquartered in the US with a focus on developing new therapeutic options for patients with rare diseases.
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Commenting on the news, Francois Martelet, Netscientific’s chief executive officer and chairman of ProAxsis, said: "This partnership further demonstrates the value offered by ProAxsis' technology to biotechnology and pharmaceutical companies, validating ProAxsis' ongoing strategy to identify and form collaborations with biotechnology companies who are developing therapeutics where a protease is a key target or offers a valuable endpoint.”
He added: “We also believe this partnership is further validation of the NetScientific investment model, with our early stage financing enabling healthcare companies to develop revolutionary ground-breaking technology with important commercial potential."
NetScientific holds a 57% stake on a fully diluted basis in ProAxsis.