New EIS fundraise to support commercial scale-up, product and IP development, and completion of clinical study
Advancing respiratory clinical research and drug development through specialist protease biomarker insights
ProAxsis, a commercial protease biomarker-led research company supporting drug development and clinical research through specialist biomarker insights in the respiratory clinical development space, has completed a major corporate repositioning and reorganisation. The move marks the next stage of the company's development.
Over the past 18 months, ProAxsis has refined its commercial strategy, strengthened its leadership team, expanded its laboratory and operational capabilities, enhanced its supply chain, and relocated to the Randox Science Park in Northern Ireland. The company has also built on its expertise, relationships and credibility through its work for leading pharmaceutical and biotechnology companies including AstraZeneca and Insmed.
As part of the transformation, ProAxsis has completed a corporate reorganisation and now operates as an independently funded growth company, having previously been incubated as a subsidiary of VC firm EMV Capital plc. An EIS-qualifying fundraise is planned to fund product and IP development, equipment purchases, commercial scale-up and the completion of ProAxsis’ clinical study with a leading London University.
ProAxsis is focused on advancing disease research and therapeutic development programmes through specialist protease biomarker insights. Initially focused on respiratory diseases, its proprietary ProteaseTag® technology enables highly specific measurement of active proteases, providing pharmaceutical and biotechnology partners with a clearer understanding of disease activity than conventional biomarker approaches.
The company's technology has already supported global clinical programmes and contributed to the FDA approval of Insmed’s first-in-class BRINSUPRI™ treatment for non-cystic fibrosis bronchiectasis. ProAxsis plans to expand the application of its technology into additional disease areas while continuing to strengthen its respiratory product portfolio and develop solutions for both clinical and home-use settings.
The strengthened team is led by Managing Director Dr Louise Ryan Murphy, who brings more than 17 years of experience in regulated IVD medical device development and operations, and Chair and Non-Executive Director Professor Steven Myint, an internationally recognised clinician, entrepreneur and investor with leadership experience across the NHS, global life sciences companies and venture-backed healthcare businesses, including senior roles at SmithKline Beecham (now GSK) and BTG.
The Advisory Board has also been bolstered with the appointments of business leaders and academic leaders from the University of Dundee, Imperial College London and Queen's University Belfast, including Professor James Chalmers, Professor Wisia Wedzicha and Professor Stuart Elborn, further reinforcing its expertise in respiratory medicine and translational research.
Dr Louise Ryan Murphy, Managing Director of ProAxsis, commented:
“Since the start of 2025, we have worked hard to reposition ProAxsis for growth by investing in infrastructure, rebuilding our supply chain, refining our commercial model and building a partner network we are immensely proud of.
“This fundraise will enable us to further accelerate product development, expand our commercial reach and build on the momentum we have created.”
Dr Ilian Iliev, Chief Executive Officer of EMV Capital plc, added:
"Following a period of operational and commercial transformation, ProAxsis has strengthened its leadership team, enhanced its operational capabilities and expanded its relationships with leading pharmaceutical and biotechnology companies.
“The business is well positioned for its next phase of development, and this fundraise represents an important inflection point for ProAxsis. We look forward to continuing to support the management team as they execute their strategy."
