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Nanoco secures grant funding to develop Covid-19 testing kit
StockMarketWire.com
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Nanomaterials manufacturer Nanoco said it had secured grant funding from the UK government to develop a heavy metal-free quantum dot testing kit for the accurate and rapid visual detection of SARSCoV-2.
The project would cost just under £1.0 million, to which the grant contributed 80%, with the balance funded by Nanoco.
The company said the project built on its existing capabilities in utilising quantum dots conjugated with antibodies in the detection of cancer.
The work would specifically focus on antibodies for Covid-19 but, if successful, the technology was expected to be applicable to other pathogens and potential future variants of Covid-19.
Nanoco said said the project would last 18 months with stage gates contingent on the success of the R&D work.
'As part of the project, Nanoco will explore opportunities to work with downstream partners for a potential delivery system for the test,' it added.
At 9:45am: (LON:NANO) Nanoco Group PLC share price was 0p at 10.6p
Story provided by StockMarketWire.com
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