NetScientific invests in DName-iT

RNS Number : 5253B

NetScientific PLC

07 January 2015

 

NetScientific plc

("NetScientific" or the "Group")

NetScientific announces investment in DName-iT bringing important
improvements to diagnostic Next Generation Sequencing

7th January 2015: NetScientific (AIM:NSCI), the biomedical and healthcare technology group, today announced its investment in DName-iT NV ("DName-iT") a spin-out from KU Leuven in Belgium

As a subsidiary company of NetScientific, DName-iT is developing a "solution of choice" for improving the quality and workflow of genetic diagnostic tests based on next generation sequencing ("NGS"). 

Current genetic tests are complex and involve many steps which are prone to errors. Diagnosis errors do occur and are important, but represent an underemphasised and understudied area of patient safety. Diagnosis errors are challenging to detect and it is even harder to determine with certainty their cause and consequence.

DName-iT's core products will include the DName molecules, accessory consumables and software for use in NGS. They will allow absolute quality control and automation of a broad range of tests in different fields in genetic labs.

Farad Azima, CEO of NetScientific, said: "Patients are receiving erroneous results from genetic tests. DName-iT has a potentially transformative technology that will help reduce such errors. For NetScientific, this investment secures an additional offering in our genomic-space personalised medicine portfolio."

Paul van Dun, General Manager of KU Leuven R&D, added: "When talking to potential partners for the further development of our technologies, we were impressed by the vision and network of NetScientific. We believe the collaboration with NetScientific creates an optimal setting for turning the technologies into products and services that will benefit society."

-Ends-

Notes to Editors

About NetScientific

NetScientific is a biomedical and healthcare technology group that funds and develops technologies that offer transformative benefits to people's lives and society through improved diagnosis, prognosis and treatment. For more information, please visit the website at www.NetScientific.net

About KU Leuven

Katholieke Universiteit Leuven, founded in 1425, is one of the oldest universities in Europe and is a world-leader in life sciences.  The research intensive university combines values of high quality innovation with exceptional facilities, which include a network of teaching hospitals.  The university has a successful track record in licensing various technologies and novel drug molecules to major companies around the world.

Contact Details

NetScientific plc Farad Azima	Tel: [phone]
Liberum (NOMAD and Broker) Chris Bowman / Christopher Britton	Tel: [phone]
Instinctif Partners Melanie Toyne-Sewell / Tim Watson	Tel: [phone] Email: [e-mail]

 

END

 

 

MSCBRMMTMBAMBJA