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Precision BioLogic Inc. Banks on Developing New Diagnostic Tools

From: Atlantic Canada Opportunities Agency

News release

Government of Canada supports research project to advance medical technology for clinical coagulation tests

May 11, 2018 – Dartmouth, NS – Atlantic Canada Opportunities Agency

Helping Atlantic Canadian businesses succeed by fostering greater innovation through the commercialization of research creates well-paying jobs and improves the lives of all Canadians. This is why the Government of Canada is supporting Precision BioLogic Incorporated’s breakthrough ideas in bioscience and the research required to develop new diagnostic products for use in clinical coagulation laboratories.

Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour, announced a $500,000 investment on behalf of the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for the Atlantic Canada Opportunities Agency (ACOA). The contribution is being made through ACOA’s Business Development Program, which supports small and medium-sized companies’ innovations to improve competitiveness in export markets.

The assistance will help Precision Biologic Inc. develop new products to complement its existing line of frozen plasma diagnostic items used for hemostasis testing throughout the United States, Canada, Europe, Australia and New Zealand. The new research project will create one job.

This investment builds on the commitments made by the Government of Canada and the four Atlantic Provinces to drive economic growth in Atlantic Canada through the Atlantic Growth Strategy. The Strategy supports targeted investments in initiatives that build on the region’s competitive advantages, such as its strong export potential and skilled labour to expand business activities between the region and international markets.

Quotes

“The Government of Canada focuses on supporting scientific research and providing equipment that Canadian researchers need to succeed in creating new technologies and medicines to diagnose diseases and treat patients. We are pleased to help an innovative company such as Precision BioLogic develop new products for identifying coagulation disorders.”

–       The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development and Minister responsible for ACOA

“Investments such as this bring innovative services and more opportunities to our country, helping to generate wealth and economic growth in Atlantic Canada. This project will encourage Precision BioLogic Incorporated to bring additional focus to its commercialization and to reach new markets.”

–          Darren Fisher, Member of Parliament for Dartmouth-Cole Harbour

“Precision BioLogic has been developing, manufacturing, and marketing frozen diagnostic products for more than 25 years. This funding will allow us to develop new products to help in the diagnosis of coagulation disorders.”

–          Paul Empey, President & CEO of Precision BioLogic Incorporated 

Contacts

Alex Smith
Director of Communications & Outreach
Atlantic Canada Opportunities Agency
Phone: 902-426-9417 / 902-830-3839 (cell)
Email: alex.smith@canada.ca

Elaine Benoit
Marketing & Communications Manager
Phone: 902-468-6422 x 357 / 902-430-7795 (cell)
Email: ebenoit@precisionbiologic.com

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