Province of Manitoba, under its commercialization support for business (CSB) program, will fund $130,000 grant to Miraculins to support the commercialization of PreVu non-invasive skin cholesterol test.
The PreVu point of care test is a risk assessment technology designed to measure a new biomarker skin cholesterol which helps in assessing risk of coronary artery disease.
The test, which is conducted on the palm of the hand with out the need to draw blood from needles, provides results in less than 5 minutes.
Under the CSB program, all assistance will be tied to mutually agreed upon milestones, and financial assistance may be required to be paid back in full in the event that the company is sold, or relocates its Manitoba operations outside of the province during the life of the project.
Miraculins president and CEO Christopher Moreau said the Province of Manitoba is active in cultivating a climate of innovation, and support businesses throughout the product development lifecycle.
"Miraculins is proud to be acknowledged, through this grant, for our potential and our role in the local life sciences community," Moreau added.