Braveheart reports strong progress at a company which aims to save lives by reducing sepsis cases
Braveheart owns Paraytec which develops high performance specialist detectors for the analytical and life sciences instrumentation markets. It has been undertaking a programme with the University of Sheffield to develop rapid tests (CX300) for identifying pathogens, including viruses.
Braveheart, which listed on AIM in 2007, has invested in a portfolio of technology-driven companies, including Paraytec. It has provided an update on progress at its portfolio of investments with its financial results for the year ended March 31 2023.
Braveheart said a number of these strategic investments are now well positioned for growth in product, service and licence revenues.
The statement added: “Paraytec's programme to apply the CX300 technology to a test for the rapid diagnosis of bacteraemia causing sepsis is underway. An important element of this work has been to meet some of the UK's leading clinicians who design and implement the NHS treatment standards for the diagnosis and treatment of sepsis.
"Paraytec's novel CX300 technology can be a major tool in the sepsis threat to global health and, as previously reported, proof-of-concept is expected to be completed by the end of this year.
"Antibiotic stewardship is a challenge to global health. It demands the responsible and strategic use of antibiotics to optimise patient outcomes, minimize the development of antibiotic resistance and preserve the effectiveness of these valuable drugs for future generations."
Braveheart also owns 86.11 per cent of Kirkstall Limited, which has developed Quasi Vivo, a system which aims to help researchers make drug safety decisions without the need for animal testing.
The statement added: “Kirkstall is committed to delivering alternatives to animal testing into the hands of researchers worldwide. With Quasi Vivo and its associated test assays, the directors believe that Kirkstall has the potential to change the research landscape.
“Kirkstall's new QV1200 product was launched in February 2023 and has already attracted strong interest from academic and commercial customers.
"The QV1200 combines all of the most useful features of the previous Kirkstall products: it is easy to set up; allows single and multi-organ experiments, has a standard microplate compatible with lab equipment and uses the standard wells for cell experiments.
“Together with the launch of QV1200, Kirkstall has taken the step of establishing its own contract research organisation (CRO) service to customers from its laboratory in Sheffield.”
Trevor Brown, chief executive officer of Braveheart Investment Group, said: “Shareholder funds are now deployed maximally to enhance the attractiveness of our investments to potential acquirers. Intensive work continues to further develop the attractiveness and value of our cutting edge science businesses.”