Having reached the first anniversary following relocation to its new purpose-built laboratory on the Catalyst Inc. site in the Titanic Quarter of Belfast, ProAxsis is pleased to provide an update on the commercialisation of its ProteaseTag® technology.

The ProteaseTag® Active Neutrophil Elastase Immunoassay was registered with a CE Mark in the latter half of 2016, and is becoming increasingly popular with both academic and pharmaceutical company researchers. Kit sales of this immunoassay to date in H2 2017 are already more than triple those recorded in H1 2017. Importantly, whilst new customers continue to initiate first usage of the immunoassay, more than 75% of 2017 customers have returned with follow-up orders. As a result of the increased awareness and requests for the immunoassay, the company announced recently that it has appointed its first distributor, Diagenics Limited, to provide in-field sales support across the UK and Ireland.

The company’s first point-of-care test, NEATstik®, was recently registered with a CE Mark, and the company maintains a strong R&D pipeline, with further product launches anticipated in the near future. Resultantly, ProAxsis remains on track to surpass £1m in total revenue for 2018.

Dr David Ribeiro, CEO of ProAxsis, commented: “We’re greatly encouraged by the rapid acceleration in sales of our first product to be registered with a CE Mark, and anticipate significant further growth in 2018. This ongoing growth for our existing portfolio, together with the planned launch of further ProteaseTag® immunoassays within the next 6 months, gives us an expectation of enhanced commercial success in 2018.”

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.

To find out how ProAxsis can support the measurement of active protease biomarkers of disease, or for any further queries, please contact info@proaxsis.com

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