Post by
dimar66 on Oct 10, 2014 4:08pm
Government of Canada Funding
From the press relese today, today's share price is over sold; I think a rebound is in order.
Response Biomedical Corp. Announces Government of Canada Funding to Support the Development of a New Sepsis Biomarker Test
Response Biomedical Corp. ("Response" or "the Company") (TSX:RBM)(OTCBB:RPBIF) today announced that it has entered into a funding agreement with the National Research Council of Canada Industrial Research Assistance Program ("NRC-IRAP") for up to $412,000 to support the development by Response of a new sepsis biomarker test for use on Response's RAMP(R) test platform. This new marker will complement Response's current cardiovascular and infectious disease test menu. Response believes that the development of this test will enable the Company to successfully expand its sales to its current RAMP(R) instrument customer base and also to help penetrate new markets.
"We are extremely pleased to have received financial support and technological advisory services from NRC-IRAP," said Dr. Barbara Kinnaird, Chief Operating Officer of Response. "This support will allow us to expand our RAMP(R) test menu with a new primary diagnostic tool that can be used to quickly guide appropriate therapy for patients arriving at hospital emergency departments worldwide."