NetScientific PLC has announced that its portfolio company, ProAxsis Limited, has successfully secured a c.£1.8 million investment. The investment was led by NetScientific's wholly owned venture capital and corporate finance firm, EMV Capital, and syndicated from a cohort of private investors. This funding includes contributions from new investors, exercise of warrants, conversion of convertible loan notes, and loans from NetScientific. Additionally, ProAxsis has provided for up to a further £289,000 to be raised on the same terms as the existing new investors in the Preferred Shares.

Following the investment, NetScientific's direct stake in ProAxsis is 90.66 per cent, equating to a post-investment fair value of c.£8.0 million, an increase of c.229 per cent from the previous valuation. The proceeds of the investment will support ProAxsis in the development of its Patient Point of Care product range, working capital requirements, and its endeavors to attract strategic partners.

Dr. Ilian Iliev, CEO of NetScientific, expressed his welcome for the additional funding for ProAxsis, stating that it demonstrates strong financial support as ProAxsis develops its offering to the respiratory disease market. He also mentioned that the introduction of investors by EMV Capital further exemplifies their capital-efficient investment model, allowing ProAxsis to grow without reliance upon the NetScientific balance sheet.

ProAxsis Limited is a global diagnostics company with a specific focus on active protease biomarkers, targeting chronic respiratory diseases such as COPD, cystic fibrosis, and bronchiectasis. The company's technology has been translated into a point-of-care test, NEATstik®, which enables ongoing monitoring of active NE levels. The investment will aid ProAxsis in the development of its product range and working capital requirements, as well as its efforts to attract strategic partners.

NetScientific plc is a deep tech and life sciences VC investment group with an international portfolio of innovative companies. The company identifies, invests in, and builds high-growth companies in the UK and internationally, adding value through proactive portfolio management and delivering investment returns through partial or full liquidity events. NetScientific is headquartered in London, United Kingdom, and is admitted to trading on AIM, a market operated by the London Stock Exchange.