Panbio subsidiary wins US defence department grant
Thursday, 16 February, 2006
Panbio's (ASX:PBO) US subsidiary Panbio Inc has been awarded almost US$100,000 (AUD$135,000) in funding from the US Deparment of Defence.
The Phase I Small Business Innovation Research grant will fund the development of a multiplex assay for agents of infectious disease based on Panbio's patented Oligo Rapid lateral flow technology which will enable testing for multiple disease states from a single disposable device.
If Maryland-based Panbio Inc successfully completes the research for the grant, the company can bid for a Phase 2 grant, valued up to US$750,000.
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