Novoheart Quickens Pulses, Wins Another Grant

By: Tomas Ronolski - AllPennyStocks.com News

Tuesday, January 7, 2020

A global stem cell biotech concern is catching the eye of officialdom, particularly that area which helps finances businesses and watches them grow.

Vancouver-based Novoheart (TSX-Venture: NVH) told investors Tuesday that its wholly-owned subsidiary has won a further grant from the Innovation and Technology Commission (ITC) of Hong Kong SAR Government. Combined with a cash rebate scheme and funding for hiring R&D talent, NVH is expected to receive a total of over HK$10 million (or $1.67 million) over the next two years.

It’s becoming a way of life; this is the third major R&D matching grant that the ITC has awarded Novoheart in recognition of the company’s pioneering work involving its award-winning MyHeart™ Platform of bioengineered human heart tissues, making the total awarded grant to over $22 million HKD ($3.7 million).

The new grant will fund research to further enhance the drug screening capabilities of its proprietary human ventricular Cardiac Organoid Chamber (also known as ‘human heart-in-a-jar’).

Shares in NVH galloped six cents, or 12%, to 56 cents, on volume of 82,000 shares.

Copyright © 2019 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon