Biosensia awarded a share of InterTradeIreland’s €4 million INNOVA R&D Fund

August 1st, 2009

DUBLIN, Ireland, 01 August, 2009:

Biosensia today announced that it had been awarded a share of InterTradeIreland’s €4 million INNOVA R&D programme.

Biosensia will receive up to €300,000 from cross-border business and development body InterTradeIreland. The funds, awarded through InterTradeIreland’s Innova R&D programme, are designed to reward and encourage ambitious companies on both sides of the border to combine their respective strengths to develop new product offerings and compete on the international stage.

InterTradeIreland Chief Executive Liam Nellis said: “Innova helps companies to work together to develop new products with demonstrable commercial potential and bring them to market faster than if they were working alone. Each application is technically, commercially and financially assessed by a team of experts and the competition is tough. Companies that have made it onto the programme should be very proud of their achievement.”

Under the programme, Dublin-based Biosensia will now collaborate with Marturion Ltd. in Lisburn to develop a next generation point-of-care diagnostic tool which could take testing out of the laboratory and onto hospital wards and bedsides.

Commenting on the collaboration Diarmuid Flavin, COO of Biosensia said “the investment in this R&D project is part of Biosensia’s ongoing commitment to expanding the capabilities of in-vitro diagnostic technologies. We are delighted to have secured InterTradeIreland funding, and look forward to working with Marturian and developing highly innovative and cost-effective point of care instrument technologies.”

Headquartered in Nova, University College Dublin, Ireland, Biosensia is poised to become a major player in the development of next-generation, point of care diagnostics. Its latest innovation, RapiPlex, is a novel, user-friendly, cost effective, multiplexing point of care (POC) in vitro diagnostics platform that gives access to a broad range of diagnostic applications.

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