Therapy Areas: Respiratory
ProAxsis secures GBP1.8m investment
15 April 2024 -

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.