Following its previous success in the BioMedical Catalyst competition, ProAxsis Limited (www.proaxsis.com) has now gained further support for its ProteaseTag® technology, via a project co-funded by the UK’s innovation agency, Innovate UK. The project, entitled “Development of technology to support the advance of new protease therapeutics”, has been awarded a grant in the Innovation in Health and Life Sciences Round 1 competition.
A number of pharmaceutical companies are currently developing inhibitors against protease targets, such as neutrophil elastase, as treatments of respiratory diseases including bronchiectasis, COPD and cystic fibrosis. ProAxsis has previously developed a laboratory-based immunoassay and a rapid point-of-care test for neutrophil elastase, utilising its ProteaseTag® technology, which such companies can benefit from. However, ProAxsis continues to seek to advance the sensitivity of its technology to maximise the range of biological samples it can be used with, and thereby improve the chances of success for these potentially important new therapeutics.
Speaking about the news, Dr David Ribeiro, CEO of ProAxsis, said: “Innovate UK programmes are always hugely competitive so we’re delighted that our project has been selected and are extremely grateful to Innovate UK for their support. The development of suitable companion diagnostic tests is an essential part of the drug development process.”
The project will commence in July 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 email@example.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 Belfast.
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 information, please visit www.innovateuk.gov.uk