Sharecast News
16 Oct, 2020 16:08

Braveheart upbeat on progress with Paraytec

coins currency investment insurance business finance company
Business and financePexels

Braveheart Investment Group updated the market on progress with the proof-of-concept for a Covid-19 test that Paraytec was conducting with the University of Sheffield.

The AIM-traded firm had announced on 5 October that proof-of-concept was achieved for the Optical Detection System.

Since then, the focus of the proof-of-concept trials had been on the Capture & Signal Generation Modules.

Braveheart confirmed on Friday that proof-of-concept had now been achieved for the Capture & Signal Generation Modules, meaning the proof-of-concept trials had been successfully completed.

The directors of Braveheart said they believed that the test would be the first to combine a rapid result with very high detection sensitivity.

Work would now turn toward the acquisition of clinically-relevant data, to facilitate optimisation of the functional capabilities of the test, together with a programme of product refinement and development.

Meanwhile, regulatory approval for live virus trials and the acquisition of clinical data was being sought.

“This is a phenomenal achievement for all concerned,” said Braveheart chief executive officer Trevor Brown.

“The inspirational leadership and innovative brilliance of professor Carl Smythe and his talented team have resulted in proof of concept in a little over four months.”

At 1347 BST, shares in Braveheart Investment Group were up 28.86% at 45.67p.

News Source: © 2020 Web Financial Group (UK) Limited. All rights reserved. Terms of use and legal notice

Important Legal Notice about News Sources: Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author. We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.

 

Important Legal Notice about News Sources

 

Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.