NetScientific PLC (LON:NSCI) shares soared on Friday after its portfolio firm, ProAxsis, received positive early data from a clinical trial of its NEATstik lung disease test.
The AIM-listed firm, which commercialises healthcare IPs and holds a 56.5% stake in ProAxsis, said the data had come from BRIDGE, a major three-year study into bronchiectasis, a condition that causes abnormal widening of the lungs, involving over 1000 patients and funded by the British Lung Foundation and the European Respiratory Society.
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The data, published in the peer-reviewed European Respiratory Journal, found that NEATstik was able to replicate the results of existing tests for chest infections within only ten minutes, meaning the test could potentially support appropriate usage of antibiotic therapy.
"This encouraging data published in the renowned European Respiratory Journal demonstrates ProAxsis' ability to monitor bacterial infections in real time in patients suffering from lung diseases”, said Ian Postlethwaite, chief executive of NetScientific.
“NEATstik has the potential to provide clinicians with a test identifying those at risk of further exacerbations providing more targeted care. We believe that ProAxsis has the potential to become a significant player in the growing point-of-care respiratory testing market."
In early deals, NetScientific shares were up 52.7% at 13p.
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