News | Health & Safety
25 Mar 2017 10:51
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Olympic Games
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Health & Safety

    Pacific Edge gets $3m extension to grant

    Pacific Edge has won a two-year extension to its research grant to fund the development of its Cxbladder products for bladder cancer detection.


    Pacific Edge has won a two-year extension to its Callaghan Innovation research grant to fund the development of its Cxbladder diagnostic suite of products for bladder cancer detection.

    The Dunedin-based firm has received up to $3 million of extra funding for research and development spread over two years, on top of an initial three-year grant of $4.5m it received in 2014, it said in a statement.

    Since the first grant was awarded, Pacific Edge has launched three new products to add to the original bladder cancer diagnostics test, with each test addressing different clinical needs.

    The shares rose 3.5 per cent to 59 cents.

    "Investment into research and development is a major focus for Pacific Edge and we are continually looking at how we can provide better and more targeted diagnostic tools for clinicians and their patients," chief executive David Darling said.

    "The Growth Grant supplements Pacific Edge's own investment into R&D and will enable us to bring new innovations through into new products and product improvements."

    The company raised $8 million in February through a share placement to institutional investors to shore up its balance sheet as it ramps up efforts to lift commercial growth.

    It started making commercial sales in 2013 and at the time was targeting $100m in gross revenue within five years.

    The recent capital raise left it with $9m of cash to fund its immediate growth needs, and when reporting its first half result in November it signalled plans to have all four Cxbladder products fully launched in the US by 2018.

    # (BusinessDesk receives funding from Callaghan Innovation to help cover the commercialisation of innovation.)


    NZN




    © 2017 NZN, NZCity


     Other Health & Safety News
     24 Mar: Authorities warn of Auckland measles scare
     22 Mar: Spend on housing to prevent falls: study
     20 Mar: Medsafe probes use of Primodos in NZ
     19 Mar: Rural health pressure risks economy: RHA
     16 Mar: Too many kids given antibiotics by five
     16 Mar: Deaf Kiwis forced to wait for interpreters
     10 Mar: Salads recalled after listeria found
     Top Stories

    RUGBY RUGBY
    Crusaders smash Force to lead Super Rugby More...


    BUSINESS BUSINESS
    Academic advocates universal basic income More...



     Today's News

    Entertainment:
    A judge has denied Kesha’s request for an amended lawsuit against Dr. Luke 10:49

    Entertainment:
    Mel B and Stephen Belafonte tried therapy to work things out 10:19

    Law and Order:
    One dead in Marlborough crash 10:07

    Entertainment:
    Kevin Hart hasn't ruled out having another child but wants to wait until he "has the patience" to look after a young kid 9:49

    International:
    Aussie Rules lovers set to converge on the Iceland for the first ever Arctic Cup 9:27

    Accident and Emergency:
    Search for missing Tauranga boatie resumes 9:27

    Entertainment:
    Noah Cyrus dreamed of being an equestrian 9:19

    Entertainment:
    Lily Collins' parents influence her love life 8:49

    Entertainment:
    Taylor Kinney falls in love with someone's "energy" 8:19

    General:
    Kathrine Switzer: 50 years ago women were not allowed to run the marathon 8:17


     News Search






    Power Search


    © 2017 New Zealand City Ltd