WINSTON-SALEM, N.C.--(BUSINESS WIRE)--GlycoMark, a research and development company for diabetes testing, has been awarded $244,479 to advance the company’s innovative early detection algorithm for diabetes and pre-diabetes, which combines the hemoglobin A1c (HbA1c) and 1,5-anhydroglucitol (GlycoMark) blood tests. The company received the maximum allowable amount under the Qualifying Therapeutic Discovery Project (QTDP), part of the Patient Protection and Affordable Care Act of 2010.
“Along with proper medical care and self-management, early detection of diabetes and pre-diabetes is the best way to stave off the life-threatening complications of diabetes,” said Eric Button, president of GlycoMark. “There was an extremely competitive approval process for this grant, and we are very pleased to receive these monies for our diabetes research program into early detection.”
In a recent report, the Centers for Disease Control and Prevention (CDC) made the alarming prediction that as many as 1 in 3 Americans could have diabetes by the year 2050 if current trends continue — an epidemic that could cost millions in health care dollars. An aging population, increases in minority populations that are at high risk for type 2 diabetes and people with diabetes living longer are reasons cited for the new projections.
People are living longer with diabetes due to some significant advances in new therapeutic approaches. Unfortunately, however, there have been few new developments in diabetes diagnostics. The HbA1c test has been proposed for screening and diagnosis of diabetes and pre-diabetes, but it has several limitations as a stand-alone screening test.
“Results from recent studies indicate that the combined use of HbA1c and 1,5-anhydroglucitol provides a significantly more sensitive and specific screening tool for identifying high-risk individuals with diabetes,” Button said. “This grant will assist us in the research and development of an important diagnostic tool to help in the prevention and treatment of a life-threatening disease.”
About GlycoMark Inc.
GlycoMark Inc. is a joint venture by Toyota Tsusho America Inc. (New York, N.Y.), Nippon Kayaku (Tokyo, Japan), and the BioMarker Group (N.C.). Located in New York, N.Y., and Winston-Salem, N.C., GlycoMark Inc. is dedicated to the discovery and commercialization of novel biomarkers for diabetes.
About the Qualifying Therapeutic Discovery Project (QTDP)
The Qualifying Therapeutic Discovery Project (QTDP) was created by Congress in March 2010, as enacted under the Patient Protection and Affordable Care Act, and provides a tax credit or grant equal to 50 percent of eligible costs and expenses for the tax years of 2009 and 2010.