EDP Biotech was awarded a $244,000 grant from the federal government under the Qualifying Therapeutic Discovery Project (QTDP) program, as a result of the company’s work in the development of ColoMarker test, an early detection blood test for colon cancer.
The ColoMarker test identifies a biomarker to help physicians better identify patients most in need of follow-up detection methods such as colonoscopies, EDP Biotech said.
EDP Biotech CEO Tom Boyd said that they continue work with the ColoMarker test and the early detection of colon cancer and are grateful that the federal government has recognised the value of company’s work and will be supporting in efforts as they continue to move forward.
The QTDP program was designed to make one-time awards to certain biotech companies that show potential to produce new therapies; address unmet medical needs; prevent, detect, or treat chronic or acute diseases or conditions; reduce health care costs, or advance the goal of curing cancer within the next 30 years.