News | Health & Safety
24 Aug 2017 22:41
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Olympic Games
  • Ski Report
  • 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 Aug: Manly go external to break NRL funk
     24 Aug: Mumps outbreak in Dunedin
     21 Aug: Doctor, nurse apologise over diagnosis
     21 Aug: Worker condemned for sex with unwell woman
     19 Aug: All Blacks great Meads 'extremely unwell'
     19 Aug: Protesters greet PM English in Dunedin
     19 Aug: Vaccine advice in pregnancy matters: study
     Top Stories

    RUGBY RUGBY
    Last-chance saloon for Wallaby Simmons More...


    BUSINESS BUSINESS
    Shares down, Metro Glass and Trade Me drop More...



     Today's News

    Law and Order:
    Arrest made after Auckland party death 21:57

    Entertainment:
    Ray J was forced to fork out $5,000 on life-saving treatment for his dog after it was locked in a cupboard 21:46

    Hamilton:
    Dead woman named following Cambridge crash 21:17

    Entertainment:
    Gemma Arterton was once told she needed to lose weight on a film set so producers flew a personal trainer out overnight to help her 21:16

    Entertainment:
    Jennifer Lopez likes to "eat a lot" when she is in Las Vegas 20:46

    Entertainment:
    Tyrese Gibson is recovering after undergoing three hours of surgery 20:16

    Politics:
    Russian director Kirill Serebrennikov placed under house arrest on 'absurd' embezzlement charges 19:47

    Entertainment:
    Katy Perry has rubbished rumours David Hasselhoff is in talks for 'American Idol' 19:46

    Entertainment:
    Megan Fox has thanked her husband for passing his good looks to their children 19:16

    Rugby:
    Last-chance saloon for Wallaby Simmons 19:07


     News Search






    Power Search


    © 2017 New Zealand City Ltd