Business
Funding award from US Department of Defense
Funding award from US Department of Defense.
About this update from Genedrive Plc
[{"type":"text","content":"\n \nRNS Number : 6988S Epistem Holdings plc 21 March 2016 \n\nRNS Press Release\nFor release: 21 March 2016\n \nAward of Funding for Next Stage of US Department of Defense Programme\n to Develop Genedrive® Biohazard Identification Tests\n \nEpistem Holdings Plc (LSE: EHP), the molecular diagnostics, personalised medicine and biotechnology company, announces today that the US Department of Defense has awarded $2.9m in funding for the next phase of Epistem's programme to develop a handheld Genedrive® test for biohazard identification.\n \nIn August 2015, Epistem announced the first $2.4m phase of the $7.8m programme with the US Department of Defense for the development and manufacture of Genedrive® as a biohazard identification system. The second phase announced today was triggered by successful progress to date and is expected to be largely undertaken during the financial year 2016/17.\n \nDavid Budd, CEO of Epistem, commented \"Today's announcement is a recognition of our team's expertise in developing new assays and marks a further important validation of Genedrive®'s potential as a highly versatile molecular diagnostic system which can be used outside a central lab setting. The US Department of Defense programme funding increases our overall development capability and our ability to develop Genedrive® to realise its full potential.\" \n \n \n- Ends -\n \nFor further details please contact:\nEpistem Holdings Plc\nDavid Budd: CEO +44 (0)161 606 7258\nJohn Rylands: Finance Director\n \nPeel Hunt LLP\nJames Steel &nb...