Stamford, Lincolnshire -- (SBWIRE) -- 05/30/2012 -- Innova Biosciences (Cambridge, UK), inventor of 'Lightning-Link®', the world’s easiest to use antibody labelling technology, is pleased to announce it has been awarded a development of prototype grant circa £210,000 by the Technology Strategy Board, with matched company funding of approximately £250,000, to develop novel nanoparticle products for diagnostics applications.

The growing diagnostic market requires nanoparticles that have been linked to antibodies, but the methods for creating these hybrid reagents are complex. The Technology Strategy Board grant, awarded through its Smart programme, will allow Innova to develop high quality reagents using much simpler linking technologies. The use of nanoparticles in life sciences, including diagnostics, is a high value sector and the award of the grant will extend Innova’s penetration into this industry.

Nick Gee (CEO of Innova Biosciences) comments ‘The award of the grant in such a competitive environment underlines Innova’s excellent track record and its on-going commitment to innovation. We expect that the products and technologies emerging from this new programme will transform the way in which nanoparticle reagents are created in the future.’

About Innova Biosciences Limited
Innova Biosciences is a growing, dynamic business based in Cambridge, UK. At the core of Innova's business are Lightning-Link® and InnovaCoat™ technologies that simplify the production of antibody-based reagents. The expanding Lightning-Link® and InnovaCoat™ portfolio is sold to research laboratories, pharmaceutical companies, biotechnology companies and diagnostic companies worldwide.

Innova Biosciences would like to invite anyone with an interest in antibody labeling or gold nanoparticles to please visit the website for more information, please see http://www.innovabiosciences.com

About the Technology Strategy Board
The Technology Strategy Board is the UK’s innovation agency, working to create economic growth by ensuring that the UK is a global leader in innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit http://www.innovateuk.org

Managed by the Technology Strategy Board, the Smart scheme offers funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge.

http://www.innovateuk.org/deliveringinnovation/smart.ashx

Contact:
Mathew Taylor
Director
Algorythm Solutions Ltd
10 Torkington St
Stamford, Lincolnshire PE9 2UY
+44 (0)773 403 2112
mtaylor@algorythmsolutions.com
http://www.algorythmsolutions.com