Located in Omaha, Nebraska, Transgenomic has earned a reputation as a global biotechnology company specializing in high sensitivity genetic variation and mutation analysis. Today, Transgenomic announced they have received a $1,070,453 grant from the U.S. Government.
The award was granted under the Patent Protection and Affordable Care Act and is among the larger awards that any one company has received under the act. Four of the young company’s Research and Development (R & D) programs received the highest maximum allowable award of $244,479.25 each.
Under the Act, $1 billion was earmarked for qualifying therapeutic discovery projects that treat areas of unmet medical need or prevent, detect or treat chronic or acute diseases and/or reduce the long-term growth of healthcare costs in the United States.
Transgenomic’s ultra-high mutation detection technology (COLD-PCR) and their Surveyor SCAN kit development for key cancer pathway gene mutations and mtDNA Damage Assays were two of the company’s R & D programs that received these awards.
Commentinjg what these grants mean to the future of Transgenomic, president and CEO Craig Tuttle was quoted as saying, “We were particularly pleased that our work with COLD-PCR, an extremely sensitive method for detecting genetic mutations with, was recognized as being worthy of this development award as we see significant promise in applying COLD-PCR to the early detection of circulating DNA mutations in cancer and other diseases. In addition, the fact that five of our programs received awards demonstrates the breadth of our research and development pursuits.”
Currently, Transgenomic is trading in the $0.51 range. To learn more about Transgenomic, visit the company website at: www.transgenomic.com.
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