REG - Braveheart Inv Group - Investment update on Paraytec Limited

Braveheart InvestmentAnnouncement

28/07/2023 14:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230728:nRSb6113Ha&default-theme=true

RNS Number : 6113H  Braveheart Investment Group plc  28 July 2023

Braveheart Investment Group plc

("Braveheart" or the "Group")

 

Investment update - Paraytec Limited

 

Braveheart Investment Group (AIM: BRH), announces an update on Paraytec
Limited ("Paraytec" or the "Company"), a company within the Group's investment
portfolio.

 

Paraytec CX300 development programme and clinical study

 

As reported in Braveheart's Annual Report for the year ended 31 March 2023,
the collection of participant specimens for the COVID-19 clinical study at
Sheffield Teaching Hospitals NHS Foundation Trust was successfully completed
by Paraytec. The Company's COVID-19 test incorporates its ParaySelect™
separation technology, together with its CX300 instrument and software
algorithms, to identify SARS-CoV-2 virus particles in swab samples.

 

The study compared the effectiveness of both Paraytec's COVID-19 test and
viral culture against the 'reference standard' which is quantitative PCR
(qPCR)-based detection of viral infection. The data has now been analysed by
the Statistical Services Unit at the University of Sheffield. The results
successfully demonstrate the efficacy of Paraytec's COVID-19 test. The
detailed results were reported to Paraytec as follows:

 

·      In a sample of 116 participants recruited within 4 days of
symptom onset, the Paraytec test correctly identified 92.8% of all SARS-CoV-2
positive cases. This rose to 100% in participants with relatively low viral
load.

·      The Paraytec test also correctly identified 89.2% of participants
who did not have a SARS-CoV-2 infection.

 

Professor Carl Smythe, from the University of Sheffield's School of
Bioscience, who led the work with Paraytec, commented: "These results indicate
that the Paraytec test is highly effective in detecting the presence of
SARS-CoV-2 in recently infected participants, who were tested within four days
of symptom onset. This is particularly clear in those participants with
relatively low viral (qPCR) load - who are in the early stage of infection -
where the test was 100% effective.  Importantly, unlike PCR, which detects
small so-called "dead" fragments of viruses present both before and long after
the infectious phase, the Paraytec test detects intact viral particles which
are more likely to indicate the presence of infectious virus. The Paraytec
test was substantially better at detecting the presence of viral particles
than viral culture, a labour-intensive approach which requires up to seven
days of incubation, which yielded positive results in only around 30% of
positive samples."

 

"The results emphasize the efficacy and usefulness of the Paraytec test. We
are particularly impressed that this technology has the potential to be used
in a point-of-care setting to rapidly detect the presence of viral particles
in people with early symptoms of infection, WITHOUT the need for sophisticated
and expensive centralised laboratory-based PCR testing."

 

"In addition to its clinical application, the Paraytec COVID-19 test system
provides a very effective means for research laboratories to further
investigate mechanisms of viral infection in patient populations as well as in
model cell systems."

 

Braveheart holds a 100% equity interest in Paraytec. In addition, it has
provided unsecured interest free loans to Paraytec totalling £1,155,200 as at
31 March 2023.

 

For further information:

 

 Braveheart Investment Group plc                                Tel: 01738 587555
 Trevor Brown CEO

 Allenby Capital Limited (Nominated Adviser and Joint Broker)   Tel: 020 3328 5656
 James Reeve / George Payne

 Peterhouse Capital Limited (Joint Broker)                      Tel: 020 7469 0936
 Duncan Vasey / Lucy Williams

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCZZGZNFRDGFZM