Entrevestor: Picomole Wins Funding for Diagnostic Lung Cancer Device

By February 26, 2019Uncategorized

Please read full Entrevestor article here

Moncton-based medical technology company Picomole has announced non-dilutive funding for its breath analytics technology, which has the potential to be a low-cost and effective tool for cancer screening.

The announcement Tuesday revealed that the federal government is providing a total contribution of $818,000 for the project through the Atlantic Canada Opportunities Agency and the National Research Council of Canada Industrial Research Assistance Program (NRC IRAP).

It includes a conditional loan of $500,000 through ACOA’s Business Development Program, and a non-repayable contribution of up to $318,000 from NRC IRAP. NRC IRAP provided past funding of close to $890,000 to support early research and technology development of the lung cancer detection prototype.