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Oxford BioDynamics (LON: OBD) has been awarded an FNIH Partnership for Accelerating Cancer Therapies (PACT) Grant to use the EpiSwitch diagnostic platform, the company said on Tuesday.
The grant for the platform is for the accurate prediction of a patient's response to Immune Checkpoint Inhibitors (ICIs) from a routine blood sample.
Oxford BioDynamics share price is currently trading at 49.8p, up 0.59% following the news.
The grant is worth $910,000 and is executed by the Foundation for the National Institutes of Health (FNIH), a US not-for-profit organization managing the pre-competitive collaboration between the National Institutes of Health (NIH), National Cancer Institute (NCI), US Food and Drug Administration (FDA), and 12 leading pharmaceutical companies.
In Q4, OBD expects to launch the EpiSwitch ICI Response Test. The two-year $910,000 grant will fund the extended application of this technology to the analysis of primary and acquired resistance to ICI in several trials.
Dr Jon Burrows, CEO of Oxford BioDynamics, said: “The recognition of the EpiSwitch® platform by the consortium of US federal agencies and top pharmaceutical stakeholders marks another significant validation of OBD's ability via 3D genomics technology to address the clinical challenges of personalized medicine, cancer treatment and immune health.”
Oxford BioDynamics shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are OBD shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies
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