• HOME
  • ABOUT US
    • CAREERS
  • TECHNOLOGY
  • NEWS
  • SERVICES
    • RESEARCH AND DEVELOPMENT
  • PRODUCTS
    • My account
    • Cart
  • CONTACT
Type and hit ENTER
  • HOME
  • ABOUT US
    • CAREERS
  • TECHNOLOGY
  • NEWS
  • SERVICES
    • RESEARCH AND DEVELOPMENT
  • PRODUCTS
    • My account
    • Cart
  • CONTACT
GET CONNECTED
  • HOME
  • ABOUT US
    • CAREERS
  • TECHNOLOGY
  • NEWS
  • SERVICES
    • RESEARCH AND DEVELOPMENT
  • PRODUCTS
    • My account
    • Cart
  • CONTACT
NetScientific acquires 100% control of portfolio company ProAxsis Limited
Share
Announcements, News

NetScientific acquires 100% control of portfolio company ProAxsis Limited

October 16, 2020
-
Posted by David Ribeiro

ProAxsis Limited (www.proaxsis.com), the Belfast-based diagnostics company specialising in the measurement of active proteases and other inflammatory biomarkers, today announces a significant change to its investor base.

Netscientific, who previously held a 56.4% equity share of ProAxsis, have taken full control of the company through acquisition of all the remaining shares via the execution of private purchasing agreements with QUBIS Limited, the commercialisation arm of Queen’s University Belfast and the two company co-founders.  In parallel, the key patent associated with the ProteaseTag® technology has been assigned to ProAxsis.

Dr. Ilian Iliev, Chief Executive Officer of NetScientific Plc said: “In line with the Group’s Strategic Review and stated plans, ProAxsis is an example of the strong commercialisation potential of spin out companies from UK Universities such as Queen’s University Belfast. This provides an early investment realisation opportunity for the company’s two co-founders, Professor Lorraine Martin and Professor Brian Walker, while allowing the company to continue and accelerate its growth. In line with NetScientific’s pro-active management, increasing our stake in ProAxsis via these agreements will enable us to provide the necessary support required to maximise the company’s value and help the company capture synergies within our broader ecosystem in this growing sector. We are delighted that David Moore, the University’s Head of Spin Outs and Investments at QUBIS, has agreed to remain on the ProAxsis board of directors for the foreseeable future.”

 

About ProAxsis

ProAxsis Limited is a commercial-stage diagnostics company, based in Northern Ireland, with a rapidly growing global client list of pharmaceutical companies and academic laboratories. The company has registered a CE Mark for activity-based immunoassays targeting Neutrophil Elastase (NE) and Proteinase 3, as biomarkers of lung infection and inflammation in chronic respiratory diseases such as COPD, cystic fibrosis and bronchiectasis.

This technology has been translated into a point-of-care test (NEATstik®), to enable ongoing monitoring of active NE levels.  Recently published data has shown that measuring active NE levels using NEATstik® enables identification of patients with airway bacterial infection and those patients at highest risk of suffering pulmonary exacerbations over the subsequent 12 months.

In addition to proteases, the company also has significant expertise in the measurement of other inflammatory biomarkers, including IL-6, IL-8 and TNF-alpha.  Grant-funded R&D funded projects for a variety of targets remain a key area of focus.

Aside from the provision of assays, ProAxsis can offer sample analysis at its purpose-built laboratory facility in Belfast and is currently supporting a number of pharmaceutical company-sponsored Phase I, II and III clinical trials.

For more information, please visit the website at: www.ProAxsis.com

October 16, 2020

Related News

Other posts that you should not miss.
Conferences, Neutrophil Elastase Immunoassay, News, ProteaseTag®

ProAxsis CEO to present at Biotech in Europe

September 23, 2016
-
Posted by Webmaster

Dr David Ribeiro, CEO of ProAxsis, will be attending the 16th Biotech in Europe Forum, taking place in Basel …

Read More
September 23, 2016
Posted by Webmaster
Announcements, News

ProAxsis accelerates work on inflammatory biomarkers associated with COVID-19

August 3, 2020
-
Posted by David Ribeiro

ProAxsis (www.proaxsis.com), the Belfast-based respiratory diagnostics company, today announces that it has been awarded an Innovate UK …

Read More
August 3, 2020
Posted by David Ribeiro
Announcements, ProteaseTag®

ProAxsis to test ProteaseTag® Technology in Cystic Fibrosis and Chronic Obstructive Pulmonary Disease at National Jewish Health

October 27, 2017
-
Posted by Webmaster

ProAxsis Limited has contracted with National Jewish Health (NJH), the leading respiratory hospital in the United States, …

Read More
October 27, 2017
Posted by Webmaster
← PREVIOUS POST
ProAxsis Limited appoints distributor for key North America region
NEXT POST →
ProAxsis accelerates work on inflammatory biomarkers associated with COVID-19
Categories
  • Announcements
  • Conferences
  • NEATstik®
  • Neutrophil Elastase Immunoassay
  • News
  • ProteaseTag®
  • Trials
  • Video
GET CONNECTED
RECENT POSTS
  • ProAxsis Limited appoints first distributor for DACH region
    December 14, 2020

    ProAxsis Limited (www.proaxsis.com), the Belfast-based diagnostics company specialising in the measurement of active …

  • ProAxsis Limited supported by Innovate UK to accelerate work on inflammatory biomarkers associated with COVID-19
    December 10, 2020

    ProAxsis (www.proaxsis.com), the Belfast-based respiratory diagnostics company, today announces that it has been …

  • ProAxsis Limited recognised as Gold Level Innovator by Innovate NI
    December 2, 2020

    ProAxsis (www.proaxsis.com), the Belfast-based protease diagnostics company, is delighted to announce that it …


ProAxsis Ltd
Unit 1B, Concourse Building 3,
Catalyst Inc,
Queen’s Road, Titanic Quarter,
Belfast,
BT3 9DT,
Northern Ireland

tel +44 (0)28 9073 0444
email info@proaxsis.com

RECENT NEWS
  • December 14, 2020
    ProAxsis Limited appoints first distributor for DACH region
  • December 10, 2020
    ProAxsis Limited supported by Innovate UK to accelerate work on inflammatory biomarkers associated with COVID-19
  • December 2, 2020
    ProAxsis Limited recognised as Gold Level Innovator by Innovate NI
LATEST TWEETS
Twitter
ProAxsis
Follow Me
ProAxsis is delighted to have received this support from Innovate UK - https://t.co/toTxOz9KK6
46 days ago
- ProAxsis
RT @GRobinsonDUP: I’m delighted that @ProAxsis based in East Belfast have been successful in their application for an Innovate UK Grant, wh…
46 days ago
- ProAxsis
We are delighted to announce that as of today, we have appointed an exclusive distributor for our portfolio of prod… https://t.co/rmCmIugsLa
67 days ago
- ProAxsis
Due to our continued expansion, we wish to recruit an Administration Officer. This post can be full-time or part-ti… https://t.co/k3wKwVfOKy
87 days ago
- ProAxsis
Copyright © 2016-2018 - ProAxsis - All rights reserved. 
NetScientific acquires 100% control of portfolio company ProAxsis Limited | ProAxsis