Callaghan Innovation Growth Grant accelerates Cxbladder development
27th February 2014
NZX ANNOUNCEMENT: Released 27 February 2014
Pacific Edge is delighted to have the support of Callaghan Innovation to further accelerate the development of its molecular cancer detection technology.
Callaghan Innovation has announced a Growth Grant for Pacific Edge that will provide up to $4.5 million spread over three years with additional funding for a further two years available on review.
Pacific Edge Chief Operations Officer Jimmy Suttie says the Government’s Callaghan Innovation fund recognises the ability of the Company to turn scientific discovery into products that bring real benefits for clinicians and patients.
“This funding will provide additional resources to accelerate the development of a range of cancer detection tests, including further non-invasive bladder cancer tests under the brand of Cxbladder. Cxbladder Detect is now available to patients and their clinicians in the USA, New Zealand and Australia. This one-stop shop of products is designed to enhance the clinician’s perspective of the urological tract for patients presenting with symptoms of possible bladder cancer.”
Pacific Edge’s Chief Executive Officer David Darling says the Callaghan Innovation Growth Grant is also recognition for those shareholders who have supported Pacific Edge through the years of research, product development and commercialisation.
“Pacific Edge started out with a mission to make a real difference by finding ways to identify a range of cancers in their early stages when they can be treated with less devastating impact on peoples lives.”
Cxbladder is the first commercial result of that research. Pacific Edge also has patents for diagnostic and prognostic tests for a range of other cancers including colorectal, gastric and melanoma.
The Growth Grant will supplement Pacific Edge’s own research and product development budget and lead to the employment of further research staff at its Dunedin Headquarters and Research Facility.
Last Updated: 27 Oct 2016 11:30 am