Management aims to raise additional capital to commercialize range of high-value targeted genotyping assays for clinical, animal health, and agriculture.
HERCULES, CA, August 18, 2014 — Eureka Genomics, a leader in Next Generation Genotyping (NGG), announced that it has been awarded a $450,000 grant from The National Institute of Food and Agriculture. The Institute is an agency of the U.S. Department of Agriculture (USDA). Eureka Genomics was awarded this grant to commercialize a second generation NGG assay focused on bovine genotyping known as the Sparse Genome Scan (SGS).
Eureka Genomics’ SGS is a technology platform that produces commercially relevant data, currently generated from micro arrays, at less than half the cost.
This most recent USDA grant awarded to Eureka Genomics follows an ongoing cooperative research and development agreement with the USDA’s Meat Animal Research Center.
"The USDA’s financial and research support is part of Eureka Genomics’ strategy to accelerate the development of our novel NGG assays for animal health. We are looking at providing a low-cost, NGG alternative platform for the AgBio, clinical and research markets in the very near term," said Didier Perez, COO of Eureka Genomics.
More broadly, management also announced that it will be raising additional capital from investors to fund and bring to market new targeted assays for clinical, animal health and crops markets. The Company continues to seek additional commercial partnerships for its clinical and agricultural products.
Genetic testing options for animal health and livestock management are typically limited in scope and prohibitively expensive, compromising the ability for routine or en mass genotyping of animals. Eureka Genomics’ existing NGG technology offers a low-cost solution for genetic testing of production and research animals. The technology can be used for determining parentage, genetic defects, quantitative traits and marker-assisted management of feedlots. Eureka Genomics envisions a number of additional applications of its low-density and medium-density assays in the $1 billon global, animal health market focused on genetics traits and early detection of infections.