REG - Braveheart Inv Group - Investment update – Paraytec Limited

Braveheart InvestmentAnnouncement

17/10/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231017:nRSQ3032Qa&default-theme=true

RNS Number : 3032Q  Braveheart Investment Group plc  17 October 2023

 

17 October 2023

 

Braveheart Investment Group plc

("Braveheart" or the "Company")

 

Investment update - Paraytec Limited

 

Braveheart Investment Group (AIM: BRH), announces an update on a company
within its investment portfolio, Paraytec Limited ("Paraytec").

 

Paraytec develops high performance specialist detectors for the analytical and
life sciences instrumentation markets. Its rapid test instrument ("CX300") is
being developed for identifying cancer and pathogens, including viruses.

 

Paraytec has provided the Company with the following update on its work in the
development of potential use cases for the CX300 by Professor Carl Smythe's
team at Sheffield University:

 

The CX300 instrument has been successfully tested in the in the detection of
Adeno-associated viruses, which are used in gene therapy. This is important
because virus-like particles ("VLPs") such as adeno-associated viruses are
used to encapsulate the new gene and deliver it into the body.

 

Paraytec has now delivered its first instrument to the Gene Therapy
Innovation and Manufacturing Centre ("GTIMC") in
Sheffield, for 'industrial' testing in GTIMC's research and development
lab. The target is to market the CX300 for use by all gene therapy
manufacturers for in-process assessment of the quality of their
adeno-associated virus products during research, development and, in due
course, manufacturing.

 

Patient safety is absolutely critical to both producers and regulators. VLPs
are capsids (very small biological capsules) and are used to carry modified
DNA that will perform the gene therapy into a patient's body. The aim is to
use the CX300 to measure attributes of VLPs that are critical to the efficacy
and safety including: (i) absolute and relative values of bound and free
nucleic acid; (ii) concentrations and empty/full ratios for AAV capsids; and
(iii) aggregation levels.  All of these can be very harmful to patients if
outside specification.

 

Manufacture of VLPs in a GMP setting is very expensive and takes days or weeks
per batch. Product testing during production is limited because of the
'sealed' GMP environment. Current analytical methods are not well suited to
testing these materials during all the stages of VLP manufacture. Hence, there
is currently little opportunity for in-line feedback of product quality to
allow process control changes during a production run.

 

As previously reported, Paraytec collaborated with the following European
producers of VLPs: GSK, Medimmune and FUJIFILM Diosynth Biotechnologies, in a
project called NEXUS. These partners confirmed a strong need for in-line VLP
analysis and Paraytec demonstrated its expertise in the analysis of
aggregation in VLPs. Paraytec will continue to enhance the CX300 instrument to
detect the ratio of full/empty capsids, a critical quality attribute to be
determined both during production and following purification.

 

Gene therapy medicine is a rapidly growing market, forecast to grow from
US$3.611 billion in 2020 to US$11.769 billion by 2027 at a CAGR of 18.39%(1).
Leading companies making acquisitions in the gene therapy market include: Elli
Lilly, Cytiva, Thermo Scientific, Novartis, Pfizer and many others.

 

(1)https://www.researchandmarkets.com/reports/5716732/global-gene-therapy-market-forecasts-from-2022?gclid=Cj0KCQjw1aOpBhCOARIsACXYv-e24eXPjMVltcDaTKSwqQACxk0J9myR5mo8FrHXaTTMFQUtu11ZOe0aAnduEALw_wcB
(https://www.researchandmarkets.com/reports/5716732/global-gene-therapy-market-forecasts-from-2022?gclid=Cj0KCQjw1aOpBhCOARIsACXYv-e24eXPjMVltcDaTKSwqQACxk0J9myR5mo8FrHXaTTMFQUtu11ZOe0aAnduEALw_wcB)

 

 

Paraytec has confirmed that its programme to apply the CX300 technology to a
test for the rapid diagnosis of bacteraemia causing sepsis is proceeding on
schedule. Paraytec's target is to demonstrate Proof of Concept of an
instrument for the rapid detection of bacteria in a blood sample, before the
end of the year. If bacteria are present, the CX300 is expected to report
whether these bacteria are classed as Gram-positive or Gram-negative.

 

The Directors of Paraytec believe that such a test will greatly help
clinicians identify the likely source of infection, allowing clinicians to
immediately target the best antibiotic treatment, since those used to treat
Gram-positive or Gram-negative bacteria are different.

 

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
 Viv Hallam, Executive Director

 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  UPDDBBDGBUBDGXL