Genedrive announces additional US defence funding
Genedrive announced it had received additional funding from the US Department of Defense to develop technology to detect a broader range of biohazards.
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The molecular diagnostics company said that the additional $1.4m award was for the continuation of the DoD programme which commenced in August 2015 bringing the total funding to $6.5m.
This follows the success of field study trials on the single cartridge solution as initially announced in January 2017.
The funding, according to the company's board, would be used in effort to develop the company's small portable Genedrive system to detect a broader range of biohazard targets across multiple cartridges and eventually a cost-effective system that would allow multiple units and tests to be deployed for field use.
David Budd, chief executive officer of Genedrive, commented: "this next phase of field testing will help to further validate and confirm the characteristics of the Genedrive system: portability, flexibility and accuracy.
"The evaluation will be far reaching, rigorous and, if successful, it will be a clear validation of the Genedrive unit as a robust and easily deployable hand held device for pathogen and disease detection".
Genedrive's shares were flat at 42.50p on Thursday.