Technology and life sciences VC investment group NetScientific Plc (AIM: NSCI) announced on Monday that ProAxsis Limited, a respiratory disease diagnostics company in NetScientific's portfolio, has closed a GBP1.8m investment.
Led by NetScientific's wholly owned venture capital and corporate finance firm, EMV Capital, the investment includes new investors, warrants and conversion of existing loans.
NetScientific's stake in ProAxsis increases to 90.66%, with post-investment fair value rising by 229%.
The funds will support product development and working capital needs.
ProAxsis focuses on protease biomarkers for respiratory diseases and offers clinical services in Belfast.
GE HealthCare expands AI-enabled enterprise imaging with Blackford integration
PureTech Health highlights progress in IPF research and LYT-100 at CHEST 2024
MediLink enters clinical trial collaboration and supply agreement with Amgen
Innovent Biologics partners with Jiangsu Aosaikang Pharmaceutical for lung cancer treatment
Genprex research collaborators to present positive data on Reqorsa Gene Therapy at SITC 2024
hVIVO reports positive results from RSV antiviral human challenge trial
BerGenBio reveals preliminary safety data from Phase 1b BGBC016 study in first-line NSCLC patients
Liquidia and Pharmosa expand collaboration for inhaled treprostinil
Alvotech launches confirmatory study for Entyvio biosimilar
Merck's KEYTRUDA receives new approvals in Japan for lung and urothelial cancers
Innate Pharma receives FDA clearance of IND for IPH4502, a Nectin-4 targeting ADC for solid tumours
Intas Pharmaceuticals reports positive opinion for HETRONIFLY in Europe
Insilico Medicine reveals positive preliminary results from ISM001-055Phase IIa clinical trial