Further update re Paraytec Limited

RNS Number : 1733J

Braveheart Investment Group plc

18 December 2020

 

Reach announcement

18 December 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 on the COVID-19 test that Paraytec Limited ("Paraytec") is developing with the University of Sheffield.

Paraytec's work to develop the test is proceeding at pace. Paraytec has acquired purified SARS-CoV2 virus which it will use to optimise both the lower limit and speed of detection, with the aim of detecting virus in asymptomatic or pre-symptomatic patients.

Ethical approval has been obtained from the Sheffield Hospitals Trust to test up to 500 clinical samples, which will be verified using the gold standard PCR approach to unambiguously demonstrate the performance characteristics of the COVID-19 test. The first results of this work are expected by the end of January 2021, at which time a further update will be provided.

Braveheart notes the recent discussions in the media regarding the underperformance of a range of single-use testing (lateral flow) devices, which are being trialled throughout the UK. The Company is committed to developing a test which achieves the performance parameters specified by the Medical Health Regulatory Authority and delivers a test result in five minutes.

Paraytec confirms that its virus capture technology will now be applied to the development of both the optical measurement system and a lateral flow device.

For further information:

Braveheart Investment Group plc Tel: [phone] Trevor Brown CEO Allenby Capital Limited (Nominated Adviser and Joint Broker) Tel: [phone] David Worlidge / James Hornigold Peterhouse Capital Limited (Joint Broker) Tel: [phone] Heena Karani / Lucy Williams About Reach announcements  This is a Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.

 

END

 

 

NRAFVLFFBLLLFBX