Source - SMW
NetScientific's portfolio company ProAxsis has announced its first sale of NEATstik, the company's point-of-care test for measuring neutrophil elastase, to a research laboratory conducting a respiratory clinical trial for a pharmaceutical company. 

NEATstik was registered with a CE Mark in the second half of 2017 and uses the company's proprietary ProteaseTag technology to allow the rapid, qualitative measurement of the active form of neutrophil elastase, an established biomarker of lung infection and inflammation.

Francois Martelet, chief executive officer of NetScientific and chairman of ProAxsis, said: "We are very pleased to note the first sale of the NEATstik, which represents a significant milestone for ProAxsis as it begins to commercialize. 

"We are also very pleased with the sales performance of the Neutrophil Elastase Immunoassay (NEIA) product, targeted at the research market, where we believe ProAxsis maintains a competitive advantage through its ProteaseTag technology. We continue to expect ProAxsis will be able to generate over £1m in revenue for 2018."

NetScientific holds a 57% stake on a fully diluted basis in ProAxsis. 
At 9:35am: (LON:NSCI) Netscientific Plc share price was +3p at 57.5p