StockMarketWire.com - Life sciences investor NetScientific said wholly owned company ProAxsis had entered into an exclusive licensing agreement with AstraZeneca.

ProAxsis would take responsibility for completing the validation and global commercialisation of a SARS-CoV-2 serology enzyme-linked immunosorbent assay developed by an internal research team at AstraZeneca.

In return for providing access to the required intellectual property and technical know-how, AstraZeneca would receive a royalty fee on future global net sales of the assay.

'We are delighted to see continued progress, with another significant step in ProAxsis' expanding product portfolio and market opportunities. The assay could if fully validated potentially attract a substantial market,' NetScientific chief executive Ilian Iliev said.

'It is envisaged that the validation and initial commercialisation can be achieved largely from ProAxsis' existing resources.'

At 9:08am: [LON:NSCI] Netscientific Plc share price was 0p at 50.5p



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