Shares in Truetide plc (AIM:TRUE) jumped 28% to 2.75p after the group flagged a potentially significant scientific and commercial step forward at its wholly owned subsidiary, Paraytec.
The rally followed news that Paraytec has launched a focused development programme aimed at creating a high-throughput, real-time screening assay linked to Parkinson’s disease research.
The work centres on detecting alpha-synuclein fibril formation, a process widely regarded as central to Parkinson’s and related neurodegenerative conditions.
Investors appear to be reacting to the scale of the opportunity rather than near-term revenues.
Paraytec is seeking to develop a rapid and low-cost assay that could help drug developers screen compounds more efficiently, an area where progress has been limited despite heavy industry investment.
If successful, the assay would be proprietary and tailored to Paraytec’s CX300 detection system.
The company said the technology could be commercialised through several routes, including reagent kit sales, fee-based screening services or partnerships with pharmaceutical and biotechnology groups.
Management also highlighted the multi-billion-dollar nature of the drug discovery market targeting neurodegenerative diseases.
While the project remains at the development stage, the sharp share price reaction suggests the market sees the programme as materially improving the long-term commercial prospects of the CX300 platform.