Business
Investment update on Paraytec Limited
Investment update on Paraytec Limited.
About this update from Truetide Plc
[{"type":"text","content":"\n\nBraveheart Investment Group plc\n(\"Braveheart\" or the \"Group\")\n \nInvestment update - Paraytec Limited\n \nBraveheart Investment Group (AIM: BRH), announces an update on Paraytec Limited (\"Paraytec\" or the \"Company\"), a company within the Group's investment portfolio.\n \nParaytec CX300 development programme and clinical study\n \nAs reported in Braveheart's Annual Report for the year ended 31 March 2023, the collection of participant specimens for the COVID-19 clinical study at Sheffield Teaching Hospitals NHS Foundation Trust was successfully completed by Paraytec. The Company's COVID-19 test incorporates its ParaySelect™ separation technology, together with its CX300 instrument and software algorithms, to identify SARS-CoV-2 virus particles in swab samples. \n \nThe study compared the effectiveness of both Paraytec's COVID-19 test and viral culture against the 'reference standard' which is quantitative PCR (qPCR)-based detection of viral infection. The data has now been analysed by the Statistical Services Unit at the University of Sheffield. The results successfully demonstrate the efficacy of Paraytec's COVID-19 test. The detailed results were reported to Paraytec as follows:\n \n· In a sample of 116 participants recruited within 4 days of symptom onset, the Paraytec test correctly identified 92.8% of all SARS-CoV-2 positive cases. This rose to 100% in participants with relatively low viral load.\n· The Paraytec test also correctly identified 89.2% of participants who did not have a SARS-CoV-2 infection.\n \nProfessor Carl Smythe, from the University of Sheffield's School of Bioscience, who led the work with Paraytec, commented: \"These results indicate that the Paraytec test is highly effective in detecting the presence of SARS-CoV-2 in recently infected participants, who were tested within four days of symptom onset. This is particularly clear in those participants with relatively low viral (qPCR) load - who are in the early stage of infection - where the test was 100% effective. Importantly, unlike PCR, which detects small so-called \"dead\" fragments of viruses present both before and long after the infectious phase, the Paraytec test detects intact viral particles which are more likely to ind...