News

ProAxsis gains backing of Innovate UK

Date : January 25, 2017

ProAxsis Limited (www.proaxsis.com) is further expanding its ProteaseTag® technology platform, via a project co-funded by the UK’s innovation agency, Innovate UK.

ProAxsis has already registered a CE Mark in Europe for its ProteaseTag® Active Neutrophil Elastase Immunoassay as a biomarker of infection and inflammation in patients with chronic respiratory diseases such as bronchiectasis, COPD and cystic fibrosis. The company has now been successful with a recent application to the BioMedical Catalyst competition.

Speaking about the news, Dr David Ribeiro, CEO of ProAxsis, said: “This funding will allow us to assess the feasibility of creating a ProteaseTag® Immunoassay for active pancreatic elastase, which would enable the quick and precise assessment of pancreatic insufficiency in patients suffering from diseases such as cystic fibrosis, chronic pancreatitis and pancreatic cancer. We are extremely grateful to Innovate UK for their support of this exciting project.”

The Chief Executive of Innovate UK, Dr Ruth McKernan, added: “Our biosciences sector, supported by the Biomedical Catalyst, is a fantastic example of the UK’s joined-up innovation ecosystem in action. Our excellent researchers develop new and novel treatments and procedures that are then commercialised by our world-class businesses.”

The project will commence on February 1st 2017, and will be conducted at the company’s purpose-built laboratory facilities at Catalyst Inc., in Belfast.

Any queries concerning ProAxsis’ Immunoassays for measuring active neutrophil elastase and active plasmin, or any other aspects of the company’s proprietary ProteaseTag® technology, can be directed to info@proaxsis.com.

ProAxsis is part of the NetScientific group and is one of the group’s core portfolio companies. The company is also supported by QUBIS, the commercialisation arm of Queens University.

Innovate UK is the UK’s innovation agency. It works with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy. For further innovation, please visit www.innovateuk.gov.uk