9th Jun 2014 11:48
LONDON (Alliance News) - Nanoco Group PLC said Monday that it had been awarded a further GBP308,000 grant from the UK government's Technology Strategy Board for its research into the use of its cadmium-free quantum dots for the imaging of cancer in living organisms.
Quantum dots are nanocrystals made of semiconductor materials, which can be used in solar cells, LEDs and diode lasers. Nanoco produces quantum dots that do not contain cadmium - a heavy metal that is restricted under European and other territories environmental legislation.
Nanoco, which is undertaking its research at the University College London, said that the University will also receive a grant to support the project.
The company has been working with the University since 2011 into the use of quantum dots to pinpoint malignant lymph nodes to guide surgeons in the removal of cancerous tissue. Whilst other materials have been used for this purpose, Nanoco's quantum dots remain fluorescent for a longer period of time.
"We look forward to continuing this research with the ultimate objective of our technology becoming part of a commercially available bio-imaging product," Chief Executive Michael Edelman said in a statement.
Shares in Nanoco were trading down 0.5% at 102.25 pence Monday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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