Adnavance Technologies Business Deal
The company also wanted to spread their businesses in the US and European market. Adnavance Technologies' recent business deal was disclosed in February 2008. The company received 3.78 million dollars investment from Working Opportunity Fund. Dr V. Randy White had been offered the position of the Chief Executive Officer.
The Business Development Bank of Canada and GrowthWorks Capital Ltd jointly supervise the Working Opportunity Fund. Adnavance Technologies Inc. develops "new direct detection molecular diagnostic tests" for several medical applications.
It mainly focuses on DNA-based tests using its proprietary metalized-DNA, which is called M-DNA, platform. Adnavance's scientists first discovered the "M-DNA phenomenon".
- This deal will enable Adnavance Technologies to spend more on the development of "ultra-sensitive metalized-DNA direct detention technology". This new technology may annul the use of target amplification for numerous molecular diagnostic tests.
- Advances aim is to decentralize the global market of molecular testing by empowering the small laboratories and hospitals. This will minimize the health care costs.
- Adnavance Technologies wanted to expand their business of "M-DNA molecular diagnostic kit" in the US and as well as European market within 2010.