Handheld diagnostics specialist genedrive plc (LON:GDR) has confirmed it and its partners have been formally awarded a £600,000 grant from Innovate UK, a body which supports technology and growth businesses.
The money will be used to help fund the development of a disposable, centrifuge-free plasma separation device.
The collaboration with NHS Tayside and the University of Dundee is designed to create companion 'kit' that can be used alongside genedrive’s Hepatitis C (HCV) diagnostic “closer to a point of care setting”.
“This has the opportunity to be a very novel and impactful project and we are delighted that Innovate UK has chosen to support us,” said chief executive David Budd.
“This device will aim to improve the applicability of the Genedrive HCV assay for closer to patient settings and would be a significant step forward in positioning the test for true decentralised diagnostics.
“Further, the device is anticipated to be independent from the Genedrive platform, opening the opportunity for other diagnostic instruments that need plasma as a starting point for blood borne viral testing."
The company said it will account for its £484,000 share of the funding as income, matched to costs incurred over the periods to 30 June 2018 and 2019.