EDP Biotech Corporation was awarded a $244,000 grant from the federal government under the Qualifying Therapeutic Discovery Project program as a result of the company's work in the development of their ColoMarker test™, an early detection blood test for colon cancer. The QTDP program was designed to make one-time awards to certain biotech companies that show significant potential to produce new therapies; address unmet medical needs; prevent, detect, or treat chronic or acute diseases or conditions; reduce health care costs, or significantly advance the goal of curing cancer within the next 30 years.
“This is exciting news for our company as we continue our work with the ColoMarker test and the early detection of colon cancer”
The ColoMarker test developed by EDP Biotech identifies a unique biomarker to help physicians better identify patients most in need of follow-up detection methods such as colonoscopies. By detecting colon cancer in its earliest stages when the survivability rate is at its highest, the ColoMarker test has the potential to save thousands of lives each year.
"This is exciting news for our company as we continue our work with the ColoMarker test and the early detection of colon cancer," said Tom Boyd, CEO of EDP Biotech Corporation. "We are very grateful the federal government has recognized the value of our company's work and will be supporting us in our efforts as we continue to move forward."
The QTDP grant program was created by Congress in May of 2010, under the Patient Protection and Affordable Care Act.
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