NetScientific PLC (LON:NSCI), the transatlantic healthcare IP commercialisation group, said today that its portfolio company, ProAxsis, had conducted its first sale of NEATstik®, the company’s point-of-care test for measuring neutrophil elastase.
The NEATstik® test, registered with a CE mark in the second half of 2017, was sold to a research laboratory conducting a respiratory clinical trial for a pharmaceutical company.
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The test utilises the company’s proprietary ProteaseTag® technology to allow the rapid, qualitative measurement of the active form of neutrophil elastase, an established biomarker of lung infection and inflammation.
Francois Martelet, Netscientific's chief executive officer and chairman of ProAxsis, said: "We are very pleased to note the first sale of the NEATstik®, which represents a significant milestone for ProAxsis as it begins to commercialise.
"We are also very pleased with the sales performance of the Neutrophil Elastase Immunoassay (NEIA) product, targeted at the research market, where we believe ProAxsis maintains a competitive advantage through its ProteaseTag® technology. We continue to expect ProAxsis will be able to generate over £1mln in revenue for 2018."
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NetScientific holds a 57% stake on a fully diluted basis in ProAxsis.
ProAxsis is developing a range of products for the capture, detection, and measurement of active protease biomarkers of diseases.