ArcanaBio has announced a second round of grant funding has been approved from the Sýklalyfjaónæmis- og súnusjóður, the Icelandic Fund for Antibiotic Resistance and Sepsis. The Icelandic biotech firm has been awarded another ISK 9 million grant (approximately USD 70,000), providing crucial financial support for its continuing mission to combat antimicrobial resistance. This additional funding will allow ArcanaBio to continue its innovative work, which focuses on the development of rapid diagnostic tests designed to identify dangerous antimicrobial-resistant bacteria and the genes that contribute to their resistance.
Daníel Óskarsson, CTO of ArcanaBio said"This second grant underlines the urgency and relevance of our work. Antimicrobial resistance remains a global health challenge, and this funding will significantly bolster our efforts to create innovative, rapid but more importantly cost effective diagnostic tools that can effectively detect a variety of bacteria and resistant strains, with a clear focus on early detection within clinical settings"