News | Health & Safety
23 Sep 2017 21:08
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
     23 Sep: Study finds too many doctors are training
     22 Sep: Paratyphoid fever cases prompt warning
     21 Sep: Women twice as likely to suffer anxiety
     20 Sep: Home can be key to obesity fight: NZ study
     19 Sep: Southern DHB to speed up biopsy reviews
     17 Sep: Kearney confirms wife has breast cancer
     16 Sep: Pharmac could fund shingles jab by April
     Top Stories

    RUGBY RUGBY
    Altitude worries all in our heads: Cheika More...


    BUSINESS BUSINESS
    New section of pipeline passes inspection More...



     Today's News

    Entertainment:
    Kate Bosworth's stepdaughter has reminded her what her "angst-ridden" twenties were like 21:04

    Politics:
    Peters chipper in tight electorate race 20:57

    Politics:
    Early election results favour National 20:37

    Politics:
    Morgan blasts 'selfish' voters 20:37

    Entertainment:
    Kevin Hart is reportedly throwing his pregnant wife a $118,000 baby shower 20:34

    Politics:
    We couldn't have done better: Labour pres 20:17

    Entertainment:
    Ne-Yo has banned himself from wearing a hat for the whole of 2017 20:04

    Entertainment:
    Margot Robbie had to take a role in 'Goodbye Christopher Robin' because she has loved Winnie the Pooh her entire life 19:34

    Rugby:
    Altitude worries all in our heads: Cheika 19:27

    Rugby:
    Second-half blitz seals Wellington win 19:07


     News Search






    Power Search


    © 2017 New Zealand City Ltd