Intelligent Bio Solutions Receives Non-Dilutive Grant Funding Of $1.43M
Portfolio Pulse from Happy Mohamed
Intelligent Bio Solutions (NASDAQ:INBS) has received a second progress payment of $1.43 million as part of a $4.7 million scientific grant awarded in 2021. The grant is from the Australian Federal Government's Department of Industry, Science, Energy and Resources' Modern Manufacturing Initiative to fund a state-of-the-art medical device manufacturing facility.
June 20, 2023 | 12:41 pm
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Intelligent Bio Solutions received a $1.43 million progress payment as part of a $4.7 million scientific grant from the Australian Federal Government to fund a medical device manufacturing facility.
The grant payment is a positive development for INBS as it provides non-dilutive funding to support the establishment of a state-of-the-art medical device manufacturing facility. This will likely enhance the company's capabilities and product offerings, potentially leading to increased revenues and growth in the future. The news is highly relevant and important for INBS investors, and the confidence in the analysis is high.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100