Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Epistem Holdings PLC gets more cash for US defence programme

Epistem Holdings plc (LON:EHP) says the potential of its Genedrive device outside the lab was underscored by the latest funding from the US Department of Defense.
Epistem Holdings PLC gets more cash for US defence programme
The department awarded US$2.9mln for the next phase of work to develop a handheld Genedrive test for biohazard identification..

Epistem Holdings Plc (LON:EHP) says the potential of its Genedrive device outside the lab was underscored by the latest funding from the US Department of Defense.

The department awarded  US$2.9mln for the next phase of work to develop a handheld Genedrive test for biohazard identification.

Last August, Epistem announced the first $2.4mln phase of the $7.8mln programme and this second phase was triggered by successful progress to date and is expected to be largely undertaken during the 2016/17 year, the company said.

David Budd, Epistem's chief executive, said: "Today's announcement is a recognition of our team's expertise in developing new assays and marks a further important validation of Genedrive's potential  as a highly versatile molecular diagnostic system which can be used outside a central lab setting.

"The US Department of Defense programme funding increases our overall development capability and our ability to develop Genedrive to realise its full potential."

Shares were unchanged at 95p each.

Giles_55af4ddca6481.jpg
Why Invest In Genedrive PLC? Read More Here

Register here to be notified of future GDR Company articles
View full GDR profile View Profile

Genedrive PLC Timeline

Related Articles

shutterstock_216375733.jpg
January 24 2017
At the moment, the healthcare firm M Pharma is a work in progress
Proteomics International Laboratories: Access latest PPT from Proactive's CEO Sessions
April 13 2017
Richard Lipscombe talked revenue generation and growth path with investors.
brain-scan.jpg
Mon
In the six months ended March, revenues increased 31% to £2mln

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use