Further update re Paraytec Limited
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
16 October 2020
Braveheart Investment Group plc
("Braveheart" or the "Group")
Further update re Paraytec Limited
Braveheart Investment Group (AIM: BRH), is pleased to provide an update concerning progress with proof of concept for a COVID-19 test that Paraytec Limited is conducting with the University of Sheffield.
As announced on 5 October 2020, proof of concept was achieved for the Optical Detection System. Since then the focus of the Proof of Concept trials have has been on the Capture & Signal Generation Modules.
Braveheart is now pleased to confirm that Proof of Concept has now been achieved for the Capture & Signal Generation Modules, which successfully completes the Proof of Concept trials. The directors of Braveheart believe that this test will be the first to combine a rapid result with very high detection sensitivity. Work will 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 is being sought.
Trevor Brown, CEO Braveheart Investment Group, commented "This is a phenomenal achievement for all concerned. 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"
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