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ITL Health Group

 

ASX Annoucement

28 June 2017

 

MyHealthTest awarded $2.6m CRC-Project Grant 

 

ITL Health Group (ASX:ITD), is pleased to announce that its wholly owned subsidiary MyHealthTest Pty Ltd (MHT), the direct to consumer pathology test provider, has been awarded a $2.6m CRC-Project grant for the development of new health testing methods using dried blood spot samples.

The grant has been awarded by the Australian Government Department of Industry, Innovation and Science, and supports a three-year collaborative project with several industry and academic partners, including Agilent Technologies Australia, the University of Canberra and the ANZAC Institute’s Prof David Handelsman.

The project commences immediately and will help MHT develop and bring to market a much wider range of tests (including tests for vitamins and hormones), and at a reduced per test cost.

The opportunity for MHT to expand its collaborative engagement through the support of the CRC-P will significantly boost its commercialization efforts and the overall market opportunities open to MHT. 

Bill Mobbs, Executive Chairman commented “This grant is an endorsement of the hard work MHT has carried out to expand its portfolio of tests. The Company has been working with University of Canberra for some time and their shared expertise should see the acceleration of new products coming to market.”

General Manager of MyHealthTest, Dr Nick Cerneaz said “By the end of 2017 MHT will be selling four test services - diabetes, prostate, thyroid and cholesterol – and this CRC-P grant will ensure the forward pipeline for MHT’s test services can now be aggressively accelerated.”

Bill Mobbs

Executive Chairman

 

About MyHealthTest

MyHealthTest, a highly innovative consumer-based pathology testing service, allows individuals to conveniently order the test service online or from pharmacies, collect samples at home, and send samples through the mail for laboratory analysis. Our next-generation pathology testing service is quality controlled to ensure accuracy and reliability, while our online portal offers guaranteed confidentiality and the simple transfer of results to healthcare practitioners or others. MyHealthTest meets the increased global demand for pathology testing services and sets the industry standard for preventative and convenient direct-to-consumer healthcare services.

 

About the CRC-P Grants Programme

Cooperative Research Centres Projects (CRC-P) grants support short term industry-led collaborations to develop important new technologies, products and services. CRC-Ps solve industry problems and deliver tangible outcomes.

CRC-Ps Aim to: improve the competitiveness, productivity and sustainability of Australian industries, especially where Australia has a competitive strength to solve industry problems and deliver tangible outcomes; deliver outcomes in line with government priorities; encourage and enable small and medium enterprise (SME) participation in collaborative research; and foster high quality research to help solve industry specific problems through collaborative research partnerships between industry entities and research organisations.

More information is available from:

https://www.business.gov.au/assistance/cooperative-research-centres-programme/cooperative-research-centres-projects-crc-ps

 and details of all successful CRC-P recipients are available here:

https://www.business.gov.au/Assistance/Cooperative-Research-Centres-Programme/Cooperative-Research-Centres-Projects-CRC-Ps/Selection-Round-Outcomes