NEW YORK (GenomeWeb News) – Phthisis Diagnostics yesterday said that it has brought in $548,877 in grants from the Commonwealth of Virginia to support development and commercialization of its molecular diagnostic products.
The Charlottesville, Va.-based firm said that it received a $499,477 Commercialization Program grant and a Small Business Innovation Research Matching Fund award of $49,400 through the Commonwealth Research Commercialization Fund. Phthisis said it was one of only four companies in Virginia to receive a Commercialization Program grant.
"This funding will support development and launch of two molecular diagnostic kits that will fulfill a critical need for better diagnosis of intestinal parasites," Crystal Icenhour, president and chief science officer of Phthisis, said in a statement.
Phthisis was founded in 2005 and has developed a range of molecular diagnostic products under the Simply Molecular brand name. Its first product, the E-Sphere Stool DNA Extraction Kit, was launched this past May.