Netscientific surges as portfolio company launches respiratory test

4th Aug 2015 11:29

(ShareCast News) - Shares in Netscientific jumped almost 7% on Tuesday, after the group said its subsidiary ProAxsis had launched its ProteaseTag immunoassay kit to research laboratories.The biomedical and healthcare technology investor described the launch of ProteaseTags, smart molecules that trap an active protease within a complex biological sample, as "a major milestone" for all concerned."The launch of the first ProteaseTag immunoassay is a major milestone for ProAxsis," said Netscientific executive director and ProAxsis chairman David Gough."We believe there is a huge potential demand for the Neutrophil Elastase test that could significantly contribute to respiratory disease and infection research."ProteaseTags are incorporated into the test kits, which measures Neutrophil Elastase, a leading indicator of infection in patients with cystic fibrosis and chronic obstructive pulmonary disease.The company believes ProteaseTags will be applicable to a number of treatments and products targeting other diseases, such as cancer and cardiovascular disorders.ProAxsis added it has received its first order from two unnamed customers and expects a good conversion of its current pipeline.Netscientific shares were up 6.47% to 181.00p at 1100 BST on Tuesday.