25 Sep 2012

Diabetes project gets nearly $1m

10:45 pm on 25 September 2012

Canterbury Scientific, in partnership with the University of Canterbury's Biomolecular Interaction Centre, is set to receive nearly $1 million in funding from the Ministry of Business, Innovation and Employment.

The investment is one of 31 projects selected under the 2012 High-Value Manufacturing and Services Research Fund announced recently by Science and Innovation Minister Steven Joyce.

It will enable research into tests for the secondary complications of diabetes.

Canterbury Scientific says the Diagnostic Markers for Diabetic Complications research project is expected to lead to the development of new commercial tests to identify patients at high risk of diabetic complications.

They include heart disease, visual impairment, diabetic neuropathy and kidney disease.

The researchers estimate revenue potential from such products at $5 million to $10 million per year in export sales by 2020.