Last checked at 9 Jun 2014 12:30
For immediate release | 9 June 2014 |
NANOCO GROUP PLC
("Nanoco" or "the Company")
Receives Technology Strategy Board Grant for Bio-imaging
Nanoco Group plc (AIM: NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials, announces that it has been awarded a further £308,000 grant to support its research at University College London (UCL) into the use of cadmium-free quantum dots in the in-vivo imaging of cancer.
The grant has been awarded by the Technology Strategy Board (TSB), the UK's innovation agency, under its Biomedical Catalyst funding programme. UCL will also receive a TSB grant under the Biomedical Catalyst programme to support the project.
Nanoco and UCL began joint research work in 2011 in which the fluorescence of Nanoco quantum dots is being used to pinpoint malignant lymph nodes to guide surgeons in the removal of cancerous tissue. Other materials have already been used in this way in clinical practice but Nanoco quantum dots offer the major advantage of fluorescing for a longer period of time, giving surgeons a greater opportunity to remove cancer cells.
The TSB funding announced today will be used to support the next stage of the joint research programme.
Michael Edelman, Nanoco's Chief Executive Officer, said: "We're delighted to receive this grant award from the Technology Strategy Board for our exciting work with University College London in cancer imaging. Our work to date shows that the sustained fluorescence achievable with Nanoco quantum dots has the potential to give surgeons a much greater window than currently available for the removal of cancer cells.
"We look forward to continuing this research with the ultimate objective of our technology becoming part of a commercially available bio-imaging product. This bio-imaging research highlights the versatility of our core cadmium-free quantum dot technology and its multiple potential commercial applications of which the display sector is our lead focus."
For further information please contact:
Nanoco | + 44 (0) 161 603 7900 |
Michael Edelman, Chief Executive Officer | |
Colin White, Chief Financial Officer
| |
Canaccord Genuity - Nomad and Joint Broker | +44 (0) 20 7523 8000 |
Simon Bridges | |
Cameron Duncan
| |
Liberum Capital - Joint Broker | +44 (0) 20 3100 2000 |
Simon Atkinson | |
Richard Bootle
| |
Buchanan | + 44 (0) 20 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
Notes for editors:
About Nanoco Group plc
Nanoco is a world leader in the development and production of cadmium-free quantum dots and other nano-materials for use in multiple applications including LCD displays, lighting, solar cells and bio-imaging. In the display market, it has an exclusive manufacturing and marketing licensing agreement with The Dow Chemical Company.
Nanoco was founded in 2001 and is headquartered in Manchester, UK. It has production facilities in Runcorn, UK, and a US subsidiary, Nanoco Inc, based in Concord, MA. Nanoco also has business development offices in Japan, Korea and Taiwan. Its technology is protected worldwide by a large and growing patent estate.
Nanoco began trading on the AIM market of the London Stock Exchange in May 2009 under the ticker symbol NANO. For further information please visit: www.nanocogroup.com.