MedMira's Biosensor Division to Receive $3 million from ACOA's Atlantic Innovation Fund

Investment in Maple Biosciences Shall Support Development of Revolutionary Diagnostics

19-Jan-2007

MedMira Inc. will receive up to $3 million from the Atlantic Canada Opportunities Agency (ACOA), under the Atlantic Innovation Fund. This financial contribution shall enable MedMira's biosensor division, Maple Biosciences, to undertake a $5.4 million project to further develop a revolutionary biosensor-based diagnostic technology.

The Atlantic Innovation Fund is a Government of Canada initiative designed to increase leading edge research and development (R&D) carried out in Atlantic Canadian research facilities, which will lead to the launch of new ideas, products, processes and services and contribute directly to the development of new technology-based economic activity. The investment from the Atlantic Innovation Fund will support the development of new diagnostic instruments based on Maple Bioscience's biosensor technology. According to the company, these new diagnostics instruments shall displace the current 30-year old technology and play an important role in the global laboratory diagnostics market sector, currently valued at over USD $22 billion.

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Topic world Diagnostics

Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.

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Topic world Diagnostics

Topic world Diagnostics

Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.