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NetScientific edges higher after portfolio company ProAxsis granted CE mark for its ProteaseTag

The award of the CE mark means the plasmin immunoassay conforms with various EU health, safety and environmental standards and is safe for sale within Europe
lungs
Plasmin is widely believed to be involved in the development of certain lung disorders

Shares in Netscientific PLC (LON:NSCI) bumped higher on Monday morning after its ProAxsis portfolio company received EU approval for its ProteaseTag Active Plasmin Immunoassay.

The award of the CE mark means the product conforms with various EU health, safety and environmental standards and is safe for sale within Europe.

READ: NetScientific’s portfolio company Glycotest unveils positive data from clinical evaluation of its liver cancer test

ProteaseTag is the first CE-marked test which measures the active form of plasmin – a target protease widely believed to be involved in the development of lung disorders such as idiopathic pulmonary fibrosis and acute respiratory distress syndrome.

“We are pleased to announce that ProAxsis has registered a third product with a CE Mark, as it continues to commercialise its growing portfolio of novel protease-targeting point-of-care tests,” said NetScientific chief executive Francois Martelet.

“We are also particularly pleased to announce the first product launch with applications in both respiratory health and other disease states including pre-eclampsia, nephrotic syndrome and diabetes mellitus.”

READ: NetScientific gaining critical mass with commercial ramp-up of portfolio

NetScientific holds a 57% stake in ProAxsis.

Shares in the healthcare IP commercialisation group rose 3.5% to 73.5p early on Monday morning.

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