GBS Inc: Jumps on Australian grant to manufacture biosensor technology

Intelligent Bio Solutions

08/07/2021 15:13

** Shares of diagnostic technology firm  GB.O  up 55% at
$4.58 in morning trade
    ** Co awarded a $4.7 mln Australian federal government
scientific grant to manufacture biosensor technology  urn:newsml:reuters.com:*:nGNXHKBBX
    ** New facility to manufacture medical diagnostic tests for
Australia and Asia
    ** GB's flagship product is the Saliva Glucose Biosensor,
being developed to provide diabetic patients a non-invasive
solution to finger-prick blood glucose testing
    ** Co expects facility to produce an annual supply of 100
mln biosensor units for Asia Pacific region
    ** Stock down 43% YTD 

 (Reporting by Sanjana Shivdas in Bengaluru)
 ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646
223 8780, outside U.S. +91 80 6749 1642; Twitter:
@SanjanaShivdas;))