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Australian health technology outfit, Atomo Diagnostics, has received a tidy $249,992 cash injection from the Australian Commonwealth Government.
The company will spend its windfall developing the world’s first fully integrated rapid blood test device, MicroRapid.
The new handheld technology is simple to use, meaning both medical practitioners and individuals at home can wield it. Current blood test systems come with five or six pieces and can be tricky to handle.
MicroRapid has been earmarked for use in a variety of clinical test applications including detecting cardiac and cancer markers, common infectious diseases including HIV and malaria, and self-screening conditions such as celiac, allergy, thyroid imbalances and anemia.
Atomo Diagnostics founder and CEO, John Kelly, said the government grant, added to $390,000 raised through private investors, will allow the company to deliver four finished products to international companies that have signed on to evaluate MicroRapid.
“This is great news for the healthcare industry both here in Australia and globally. We are proud to be pioneering such an innovative device that improves the ease and accuracy of rapid test procedures and will ultimately save lives,” Mr Kelly said.
“We would like to express our thanks to the Commonwealth Government and to Commercialisation Australia for their recognition of the significant clinical and commercial potential of MicroRapid.”
“Without their support to develop new opportunities, it would be very difficult for technology businesses like ours to remain in Australia and continue to create world class products.”
Atomo Diagnostics is on track to complete test evaluations by April, while the company expects to secure commercial agreements for MicroRapid in late-2012.
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