1st Jun 2018 10:51
LONDON (Alliance News) - NetScientific PLC on Friday said portfolio firm ProAxsis has been awarded a grant in Northern Ireland to develop its protease biomarker technology.
The unspecified grant is from Invest Northern Ireland, and will go towards developing ProAxsis' ProteaseTag technology, which identifies and quantifies protease biomarkers.
The research, NetScientific said, will aid the clinical validation of new treatments for deubiquitinases, which are though, it added, to play a role in pathogenesis of several cancers and neurodegenerative disorders.
NetScientific Chief Executive Francois Martelet, who is also ProAxsis chairman, said: "The expansion of ProteaseTag technology from serine into cysteine proteases represents a strategic cornerstone for ProAxsis and substantially enlarges the addressable market down the line."
"We thank Invest NI and congratulate ProAxsis on its continuing momentum towards becoming the leader in assays for active protease biomarker measurement."
NetScientific shares were untraded Friday, last quoted at 48.80 pence each.
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