Proactive Investors - Run By Investors For Investors

Handheld diagnostics specialist genedrive confirms award of £600,000 grant

The money will be used to help fund the development of a disposable centrifuge-free plasma separation device
centrifuge
It is hoped the new device will be able to separate plasma without the using a centrifuge (pictured).

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.

View full GDR profile View Profile

Genedrive PLC Timeline

Related Articles

1534940807_rsz_shutterstock_130327115.jpg
August 22 2018
The group's products are extracted from flaxseeds, a plentiful and non-animal source of omega-3.
Antigens
November 29 2018
The deal with New England Biolabs, signed in October, is expected to secure six-figure royalty sums as soon as next year
Collagen testing
August 17 2018
Since reporting its full-year results on July 10, the AIM-listed shares have rallied over 38% in the past month to 3.65p currently, taking year-to-date gains to a third

© Proactive Investors 2018

Proactive Investors 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