Investment update - Paraytec

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Truetide plc

("Truetide" the "Company" or the "Group")

Investment update - Paraytec

Truetide (AIM: TRUE) announces an update on one of its investee companies, Paraytec Limited ("Paraytec"). Truetide has a 100% interest in Paraytec.

Paraytec has initiated a focused development program to establish a high-throughput, real-time fluorescent assay for alpha-synuclein fibril formation using the CX300 detection system.

Alpha-synuclein aggregation is widely regarded as the central pathological process in Parkinson's disease and other neurodegenerative diseases. Despite intensive industry efforts, no disease-modifying therapy has yet reached the market, in part due to the absence of robust, rapid and cost-effective screening tools capable of identifying molecules that prevent or reverse pathological aggregation.

The planned work comprises:

• production and purification of recombinant wild-type and selected pathogenic mutant alpha-synuclein proteins;
• optimisation of site-specific fluorescent labelling compatible with real-time measurement on the CX300 instrument;
• full validation of the assay across multiple alpha-synuclein variants; and
• preparation of a technical methods paper and presentation at leading international synucleinopathy conferences in 2026, supported by collaboration with Professor Oliver Bandmann (Sheffield Institute for Translational Neuroscience (SiTRAN)).

In the event of a successful completion, Paraytec expects to possess a proprietary, accurate, rapid and low-cost assay that is currently unavailable from any commercial source in a format optimised for the CX300 platform. The directors of Paraytec believe that this assay has the potential to become a preferred screening tool for pharmaceutical and biotechnology companies active in the synucleinopathy field.

The combination of high sensitivity, real-time kinetics, and low sample consumption positions the CX300 system to capture meaningful market share in what is a multi-billion-dollar drug discovery segment. Initial commercialisation routes under active consideration include reagent kit sales, fee-for-service screening and strategic partnerships with instrument vendors and therapeutic developers.

The Board of Truetide views this investment by Paraytec as a high-return opportunity to establish clear technical differentiation for the CX300 platform in one of the most commercially attractive areas of neurodegenerative disease research.

A further announcement will be made upon completion of the program and publication of the validation data.

Trevor Brown, CEO of Truetide, commented:

"Paraytec remains close to making the scientific and commercial breakthrough via its CX300 technology, that the directors of Truetide hope for. Although somewhat protracted, the development work for a rapid Gram test continues, this new program to establish a high-throughput, real-time fluorescent assay for alpha-synuclein fibril formation significantly increases Paraytec's exposure to the possibility of eventual commercialisation of the CX300."

Duncan Vasey / Lucy Williams