Nexsen Limited has won a $500,000 non-dilutive grant to extend its rapid Group B Streptococcus diagnostic technology into neonatal care, opening a significant new market opportunity.
- Awarded $500,000 non-dilutive grant via Australia's Economic Accelerator Ignite program
- Project expands Nexsen’s GBS rapid sensor from maternal to neonatal testing
- Total project value exceeds $1 million with contributions from Nexsen and RMIT University
- Targets rapid point-of-care diagnosis to reduce neonatal GBS infections and antibiotic overuse
- Supports accelerated development with minimal capital outlay for Nexsen
Grant Boosts Neonatal Diagnostic Development
Nexsen Limited (ASX – NXN) has taken a significant step forward in its mission to revolutionise rapid diagnostics with the announcement of a $500,000 non-dilutive grant awarded to RMIT University under the Australian Government’s Economic Accelerator Ignite program. Acting as the commercialisation partner, Nexsen will leverage this funding to adapt its existing Group B Streptococcus (GBS) rapid sensor technology for neonatal testing.
This initiative addresses a critical and globally significant gap in neonatal care. GBS remains a leading cause of severe infections in newborns, with an estimated 232,000 cases worldwide in 2020 resulting in approximately 92,000 deaths and stillbirths. By enabling rapid, point-of-care diagnostics at or shortly after birth, Nexsen aims to reduce the incidence of GBS-induced sepsis and the overuse of antibiotics in this vulnerable population.
Expanding Market and Clinical Impact
The project, valued at over $1 million, includes contributions from Nexsen and RMIT University alongside the Commonwealth funding. It will focus on customising the maternal GBS rapid sensor for neonatal applications, targeting both early-onset and late-onset infections. This expansion unlocks a substantially larger addressable market, given the estimated 132 million births globally in 2024, complementing Nexsen’s existing maternal screening efforts.
Mark Muzzin, Nexsen’s Managing Director, highlighted the strategic importance of this development – "This funding supports an important extension of our GBS program into neonatal care, a clinical setting where rapid and accurate diagnostics can have a direct impact on outcomes. Working alongside RMIT University, the project allows us to broaden the clinical utility of our technology while advancing a larger global testing opportunity, all with minimal capital outlay for Nexsen."
Leveraging Established Technology and Partnerships
The GBS Rapid Sensor is currently undergoing clinical trials and progressing toward a pre-submission meeting with the US Food and Drug Administration, aiming for 501(k) clearance. The collaboration with RMIT University, led by Distinguished Professor Vipul Bansal, underscores the translational readiness of the platform and its scalability across multiple clinical settings.
Professor Bansal noted, "The project demonstrates how established platform capabilities can be efficiently leveraged to extend the technology into neonatal applications, reinforcing the scalability of Nexsen’s approach and its capacity to progress additional high-impact diagnostic programs."
Strategic Implications and Future Prospects
By securing this grant, Nexsen preserves capital while accelerating development timelines, positioning itself strongly for clinical validation of the neonatal diagnostic. The project also aligns with the Australian Government’s advanced manufacturing priorities, reflecting support for domestically developed medical technologies with scalable clinical and commercial potential.
Looking ahead, Nexsen’s broader portfolio, including rapid kidney function tests and diagnostics across human health, ag-tech, and biosecurity, positions the company as an emerging leader in rapid point-of-care testing globally.
Bottom Line?
Nexsen’s neonatal diagnostic push could redefine early GBS detection, but clinical validation remains the critical next hurdle.
Questions in the middle?
- How soon can Nexsen expect regulatory approval for the neonatal GBS diagnostic?
- What are the commercialisation plans and potential partnerships following clinical validation?
- How will Nexsen’s expanded platform compete with existing neonatal diagnostic solutions globally?