31st May 2019 09:17
LONDON (Alliance News) - NetScientific PLC on Friday said portfolio company ProAxsis Ltd has received positive data from a lung disease study.
Shares in NetScientific were up 44% at 12.25 pence in morning trade.
Early data showed the potential of ProAxsis test NEATstik to be used to monitor bacterial infections in patients with lung diseases. NetScientific has a 57% stake in ProAxsis, 54% when fully diluted.
NetScientific Chief Executive & Chief Financial Officer Ian said: "This encouraging data published in the renowned European Respiratory Journal demonstrates ProAxsis's ability to monitor bacterial infections in real time in patients suffering from lung diseases. NEATstik has the potential to provide clinicians with a test identifying those at risk of further exacerbations providing more targeted care. We believe that ProAxsis has the potential to become a significant player in the growing point-of-care respiratory testing market."
The data is from the Bridge study, a clinical trial funded by the British Lung Foundation and the European Respiratory Society which involves more than 1000 patients across the European Union.
The result of a NEATstik test is correlated with the severity of lung disease, the presence of a bacterial infection, and the risk of exacerbation.
Moreover, NEATstik could also replicate the results of existing tests for chest infection in patients with bronchiectasis, a condition in which the airways of the lungs become abnormally wide and cannot clear properly, in just ten minutes.
The study concludes that NEATstik can help clinicians identify lung disease patients with bacterial infections or who are at risk of getting worse in the next 12 months.
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