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NorDiag receives NOK 9,4 Million in public funding
29 January 2009: NorDiag has been granted up to NOK 9.4 million in the period 2009-2011 by the Norwegian Research Council`s BIA funds. The grant will be used for the development of diagnostic tests for M-Tuberculosis and Lyme disease.
The tests will be based on NorDiags unique technology platform to produce antigens against certain aggressive infections - the technology is exclusive in-licensend from it`s Russian collaboration partner Bionom.
Mårten Wigstøl comments: `M-Tuberculosis is becoming a large problem in today`s healthcare. There is a current and urgent need for a rapid low cost test with improved sensitivity and specificity - the market potential for such a test is estimated to be 130 million tests per annum. Funding from the Norwegian Research Council has been a releasing factor for this project under the current difficult financial climate.`
According to Dr. Erik Hornes, Chief Scientific Officer in NorDiag, Lyme disease (Borelia) is becoming a widely spread disease in many countries: `Too late diagnosis is often causing serious problems for the patients. There is no test with an acceptable performance (sensitivity & specificity) currently in the market - the market need and potential for such a test is huge.`
Contact:
CEO Mårten Wigstøl
Phone: +47 911 65775 or
morten.wigstol@nordiag.com
About NorDiag:
NorDiag is a biotechnology company developing, manufacturing and marketing automated solutions, instruments and tests, for diagnostic of infectious diseases and cancer. The Company`s core competence is isolation of bacterial and human DNA from difficult clinical samples, and the Company has established a solid market share in the Scandinavian market for sexually transmitted infections. The company has similar applications for Tuberculosis and MRSA. An application for respiratory pathogens is under development. NorDiag is also developing a test that shall contribute to early diagnosis of colorectal cancer. NorDiag was founded in 2003 and has its headquarters in Oslo - Norway. The Company has offices and laboratories in Bergen - Norway, Stockholm - Sweden and West Chester (PA) - USA. The group has 39 employees. NorDiag is listed on Oslo Stock Exchange with the ticker NORD. For further information - www.nordiag.com.
Read the notice in Norwegian here