GeneTraks picks up $1m grant

Brisbane-based GeneTraks has received a $1 million R&D Start grant from the Commonwealth government for its AUD$2.6 million equine diagnostics development project.

The company is developing two diagnostic tests based on gene expression -- a neurological disease diagnostic to be launched on the US market next January, and a second test capable of diagnosing multiple conditions in August 2005. "There are not huge regulatory requirements for the veterinary market in the US," said GeneTraks CEO Dr Roslyn Brandon.

The first product, which uses Affymetrix Gene Chip technology to assess gene expression signatures in the blood, will target neurological conditions, a major equine problem in the 7-million horse US market. According to Brandon, about 9 per cent of horses present with neurological symptoms, and current diagnostic methodology is expensive and slow.

In addition to diagnosis, the initial product will also be capable of determining an animal's susceptibility to neurological diseases, which widens the potential market even further.

"The potential market is huge, as if we test a horse and it turns out to be susceptible, we can put the horse on preventative medication or vaccinate it," Brandon said. "The test could be used to screen imported horses or newborns."

The remainder of the funding required for the 12-month long project has been sourced from the company's existing funds. In 2002, the company raised $6 million from a variety of venture capital sources.

Brandon said the company was assessing strategies for further capital raising, as well as the appropriate options for commercialising the products.