Braveheart Investment Group PLC (AIM:BRH) said portfolio company Paraytec has secured its first commercial sales contract for the CX300 Optical Particle detector instrument.
Nottingham Trent University (NTU) is the customer and will use the instrument to further its research into Alzheimer's, dementia and Parkinson's disease.
"The directors of Paraytec believe that this sale of the CX300 instrument could be the first of many to UK and European research laboratories," Braveheart noted.
Trevor Brown, Braveheart's chief executive, commented: ”This sales contract with NTU is the first commercial sale of the CX300 instrument by Paraytec, justifying our investment in the company and its development in the CX300 instrument.”
Braveheart holds a 100% equity interest in Paraytec and has provided unsecured interest-free loans totalling £1.15 million as of 31 March 2023.