The British molecular diagnostics firm recently completely a redesign of its point-of-care system, called Q-POC, and is planning to seek a CE-IVD mark for the device later this year.
The firm said net product revenues fell 11 percent year over year in the fourth quarter.
The firm will use its solid-state nanopore technology to develop a point-of-care molecular diagnostic device to detect tuberculosis in low-resource areas.
The company's HIV testing revenues were up 24 percent year over year, while HCV testing revenues plummeted 68 percent.
The foundation will provide funding of no more than $20 million over the four-year term of the deal, and no more than $6 million each year.
The grant will go toward creating a diagnostic technology center to develop methods for detecting protein biomarkers at the point of care.
The award will support the development of diagnostics and analytical tools for childhood disease detection using tissue-based fluorescent in situ sequencing.