OncoSNAAT is a key project for Genomtec from the perspective of increasing the company’s value and a potential M&A transaction. For this project, the Company has secured funding in excess of PLN 10 million, which was successfully raised from the Company’s shareholders and a foreign investor. These funds guarantee the acceleration of the work.
The ‘OncoSNAAT’ oncology project is a method developed by Genomtec that uses SNAAT® technology to diagnose cancer for use at the patient’s point of care. In December 2008, Genomtec signed a grant agreement with the Polish Agency for Enterprise Development (PARP) for the oncology project. The grant amount is PLN 21.6 million and the total project budget will be approximately PLN 36.7 million. The implementation of the project started in January 2024 and will last until 2027.
“OncoSNAAT consists of the development of a technology and an automated system for mutation detection in clinical oncology, based on a lab-on-chip solution and isothermal nucleic acid amplification techniques. The project consists of three modules: R&D, digitalisation and internationalisation.