Ventripoint Diagnostics (TSXV: VPT) this morning had a brief release, indicating the firm has received further research funding. The latest round of funding comes from the National Research Council of Canada’s Industrial Research Assistance Program.
The recent funding has seen the firm receive an additional $107,000 in research and development funding, as well as certain advisory services. The grant is reportedly in addition to a recent funding for up to $120,000 that was previously granted.
Combined, the $227,000 in funding is expected to be used by the firm to enhance its VMS+ whole heart analysis system that is focused on changing how the analysis of the heart is conducted. The firm has indicated that its advisory board of cardiologists is eager to see the latest version of the project completed so as to be able to proceed with clinical field trials to verify the ability of the device to analyze whole heart function.
Commenting on the grant, CEO George Adams stated, “Ventripoint’s mission is to improve cardiac diagnosis for everyone, worldwide and especially for children, so it is wonderful to have the support of the Government of Canada through NRC IRAP as we push the limits of our technology to even better performance.”
Ventripoint Diagnostics last traded at $0.36 on the TSX Venture.
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