Gbs Inc (NASDAQ: GBS) project has been awarded $4.7 million by Australian Federal Government scientific grant to manufacture Biosensor Technology.
The project identified as National Manufacturing Priorities: The projects have been identified as one of the six National Manufacturing Priories under MMS (Modern Manufacturing Strategy). Gbs has been awarded a $4.7 million grant from the Australian Federal Government’s Department of Industry, Science, Energy and Resources’ Modern Manufacturing Initiative to start producing for the APAC region for Printable Organic Electronic Biosensor technology. As per the management, the grant has come at the most appropriate time, as the company proceeds for clinical testing.
Gbs’s product, SGB (Saliva Glucose Biosensor), is the first to be developed from the Biosensor Technology Platform and is currently being developed as a point-of-care test intended to provide people who have diabetes. As per the release, this test is expected to offer a pain-free option by using OTFT (Organic Thin-Film Transistor) compared to the current testing.
Gbs plans to commercialize a SARS-COV-2 antibody: In addition to the Saliva Glucose Biosensor, the company intends to commercialize SARS-COV-2 Antibody Biosensor rapid diagnostic test to monitor immunity levels in real-time to fight against the pandemic. The SARS-CoV-2 Biosensor will be developed jointly with the Wyss Institute for Biologically Inspired Engineering, Harvard University.
As per GBS, its manufacturing facility is expected to have a capacity to produce 100M biosensor units primarily targeted for sales in the APAC (Asia Pacific) region. As per the current demand, the production of SARS-COV-2 and the SGB follows stringent testing and research of the technology. As per the company, there are nearly 130 indications/products under development. All of them assist in healthier communities globally. GBS’s technology is an Australian invention, resulting from 20 years of research and development. GBS stated that its business model is about a product that will meet the medical requirement. Moreover, the recent manufacturing facility will also help the nations or society create new jobs in the market.