Nanoco Group PLC Nanoco Awarded Grant from Innovate UK (1212K)
05 July 2017 - 4:00PM
UK Regulatory
TIDMNANO
RNS Number : 1212K
Nanoco Group PLC
05 July 2017
NANOCO GROUP PLC
("Nanoco" or the "Company")
Nanoco Awarded Grant from Innovate UK for Major Life Sciences
Project
Nanoco Group plc (LSE: NANO), the leading developer and
manufacturer of cadmium-free quantum dots and other nanomaterials,
is today pleased to announce that it has been awarded a major grant
from Innovate UK, the UK's innovation agency, to support its
ongoing research into the use of quantum dot nanoparticles within
cancer imaging.
The research project which has received the grant - entitled
"VIVODOTS(TM) nano-devices for detection, resection and management
of pancreatic cancers" - is a continued collaboration between
Nanoco and University College London ("UCL"), the Group's partner
in the life sciences sector, and builds on the significant progress
that Nanoco's Life Sciences team has made on in-vivo mapping of
sentinel lymph nodes and breast cancer imaging.
In support of the project, Nanoco will receive grant funding
from Innovate UK of up to GBP484,689, representing 60% of the costs
the Group expects to incur, paid quarterly in arrears over a
three-year period.
The proposed VIVODOTS(TM) nano-device will enable more effective
pre, intra and post-operative management of pancreatic cancers,
resulting in better surgical treatment, higher cure rates, and
better quality of life for survivors. Later development should lead
to the extrapolation of the same concept to other types of deadly
malignancies.
Michael Edelman, CEO of Nanoco Group, said:
"As a business, we are proud to be working with a number of
commercial and research institutions at the cutting edge of the
battle against cancer, and this grant is testament to the scope of
our ambition in the life sciences sector and the value of our
technology in the clinical arena."
"In this exciting project, we will be working with UCL to
develop a groundbreaking cancer imaging therapeutic nano-device
that will enable better detection and treatment of lethal types of
tumours, particularly pancreatic tumours. The design will be based
on the use of biocompatible and fluorescent quantum dot
nanoparticles equipped with specific cancer targeting molecules; a
major innovation that has already proved successful in our initial
trials."
- ENDS -
For further information, please contact:
Nanoco Tel: +44 (0) 161 603 7900
Dr Michael Edelman, Chief Executive Officer
David Blain, Chief Financial Officer
Caroline Watson, Investor Relations Manager Tel: + 44 (0) 7799
897357
cwatson@nanocotechnologies.com
Peel Hunt Tel: +44 (0) 20 7418 8900
Adrian Trimmings
George Sellar
MHP Communications Tel: +44 (0) 20 3128 8570
Reg Hoare / Andrew Leach / Giles Robinson / Peter Lambie
nanoco@mhpc.com
Notes to Editors
ABOUT NANOCO
Nanoco (LSE: NANO) harnesses the power of nano-technology to
create a brighter, more sustainable future. Based on breakthrough
science, Nanoco's proprietary manufacturing process enables the
large-scale production of its cadmium-free CFQD(R) quantum dots for
multiple applications including LCD display, lighting, healthcare
and solar.
Nanoco has non-exclusive manufacturing and marketing licensing
agreements in display with The Dow Chemical Company, Merck KGaA of
Germany, and Wah Hong Industrial Corporation of Taiwan.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the main market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocogroup.com.
ABOUT INNOVATE UK
Innovate UK is the UK's innovation agency. It works with people,
companies and partner organisations to find and drive the science
and technology innovations that will grow the UK economy.
For further information visit www.innovateuk.gov.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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