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GBS Gets $4.7M Australian Federal Government Grant to Expand Biosensor Manufacturing

NEW YORK – Life sciences and diagnostic products company GBS announced on Thursday that it has received a US$4.7 million scientific grant from the Australian federal government to build out a biosensor manufacturing facility.

The Medical Products Priority Grant from the Australian Department of Industry, Science, Energy, and Resources' Modern Manufacturing Initiative will allow for the establishment of an Australian manufacturing facility to begin scaling production of GBS' Printable Organic Electronic Biosensor technology for the Asia Pacific region.

The company, a portfolio company of Australian private equity company iQ Group Global, said in a statement it anticipates the facility will have the capacity to manufacture 100 million biosensor units yearly that can be rolled out to global commercialization sites in the region.

Sydney-based GBS' Saliva Glucose Biosensor is being developed as a point-of-care test for diabetes patients to measure blood glucose using organic thin-film transistor technology, which was originally developed for solar panels. The company also plans to commercialize a SARS-CoV-2 Antibody Biosensor rapid POC diagnostic test to monitor exposure and immunity levels.

The SARS-CoV-2 test is being developed in collaboration with the Wyss Institute at Harvard University and will be integrated with Wyss's eRapid electrochemical sensor technology to detect multiple biomarkers for SARS-CoV-2 infection.

Once the Saliva Glucose Biosensor is commercialized, GBS plans to use its technology for additional POC applications including diagnosis and management of cancer, infectious disease, and allergies. It said it has 130 indications currently under development.

"We are pleased with this significant grant as it allows us not only to further advance our technology but also to continue developing future point-of-care diagnostic tests," GBS CEO Harry Simeonidis said in a statement.