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

Genedrive PLC Timeline

Related Articles

Magnified view of cancer cells
July 28 2016
ANGLE's Parsortix blood screening system could replace the traditional biopsy in the diagnosis of breast cancer. Proactive takes a look at how it works and the potential it holds to change the way cancer is diagnosed.
Diagnostic test
July 26 2016
The timetable for the HCV test trials is relatively short
1-SG02055.jpg
March 22 2016
e-Therapeutics is now targeting partners to accelerate the development of its drug discovery engine and commercialise compounds.

© Proactive Investors 2016

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.