Pharma Capital

NetScientific says portfolio company ProAxsis has appointed Diagenics as distributor for its ProteaseTag® product in Great Britain and Ireland

The transatlantic healthcare IP commercialisation group said the appointment is expected to accelerate the commercial uptake of ProAxsis' technology, increasing near-term sales potential
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NetScientific holds a 57% stake on a fully diluted basis in ProAxsis

NetScientific PLC (LON:NSCI) said its portfolio company ProAxsis has today announced it has appointed Diagenics Limited as the distributor for its ProteaseTag® Active Neutrophil Elastase Immunoassay in Great Britain and Ireland.

The transatlantic healthcare IP commercialisation group said the appointment is expected to accelerate the commercial uptake of ProAxsis' technology, increasing near-term sales potential for the portfolio firm.

READ: NetScientific portfolio company, ProAxsis signs partnership agreement with large US biotech firm

Commenting on the news, Francois Martelet, Netscientific’s chief executive officer of and chairman of ProAxsis, said: "We are delighted to announce the build of commercial operations for ProAxsis and we have high confidence in the platform of Diagenics Limited to respond to the increase in demand for ProAxsis' immunoassays given its strong market reputation.”

He added: “The expansion of sales capabilities represents a critical milestone for ProAxsis and brings our portfolio company closer to significant value creation."

NetScientific holds a 57% stake on a fully diluted basis in ProAxsis.

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