Bluechiip Limited Stock Market Press Releases and Company Profile
Receives Funding for Over-temperature R&D
Receives Funding for Over-temperature R&D

Melbourne, Nov 17, 2016 AEST (ABN Newswire) - Bluechiip Limited (googlechartASX:BCT), a leader in the development of sample tracking technology for harsh environments, today announced the company has received $50,000 in funding from Innovation Connections to proceed with the second phase of development of its 'overtemperature' chip technology with the University of Melbourne.

Innovation Connections is part of the Australian Government's Entrepreneurs' Programme. The program helps promote and drive innovation and industry-led collaboration between Small-to-Medium Enterprises (SMEs) and the research sector, aiming to foster the development of new ideas with commercial potential.

The $50,000 is the second grant Bluechiip has received from the Commonwealth, which is matched by funding from the company.

Bluechiip will use the money to continue work on its 'over-temperature chip', which provides a permanent record if a sample's temperature, once frozen, deviates above an ideal prescribed limit causing damage and potential failure.

Work on the 'over-temperature chip' began last year after the company received the first grant, announced in September 2016. This early research resulted in a provisional patent application, which was announced to the ASX in September this year.

"The goal for the second stage of the project is to develop and produce a working prototype incorporating findings and recommendations from the first stage of development," said Bluechiip CEO Andrew McLellan. "Importantly, we have received feedback from our Original Equipment Manufacturing (OEM) partners that they would pay multiples of current chip prices for over-temperature chips."

Professor Stan Skafidis, Director of Centre for Neural Engineering at the University of Melbourne, said, "We welcome this opportunity from the Commonwealth to continue our department's great collaboration with Bluechiip. Such programs are important to promote engagement between researchers and businesses, which lead to the fostering of new innovations with commercial outlook. The research team looks forward to continuing to work with Bluechiip."

Andrew McLellan said, "Working with Melbourne University allows companies like ours to develop enhanced technologies to meet what is undoubtedly significant customer demand. This is a major step for us and has the potential to open up large markets."

About University of Melbourne:

The University of Melbourne enjoys an outstanding reputation with world rankings consistently placing it as Australia's leading comprehensive research-intensive university, and one of the world's top 50.

Melbourne attracts the best and brightest students and researchers and, with a history of over 160 years, occupies a special place at the heart of our city's cultural scene. The University has seven campus locations across Melbourne and rural Victoria, including the Parkville campus.

As the leading university in the nation, with world-renowned research, a distinctive and graduatefocused teaching profile and a much-strengthened sense of connection to its many communities, the University seeks to fully realise this vision through a response to the grand challenges posed by our society.

The Centre for Neural Engineering (CfNE) is an interdisciplinary centre, established to undertake research in neuroscience and neural diseases. The CfNE draws together leading neuroscientists, neurologists, psychiatrists, cell biologists, geneticists, electrophysicists, chemists, physicists and engineers from the University of Melbourne and partner institutions.


About Bluechiip Limited

Bluechiip Ltd ASX BCTBluechiip Ltd (ASX:BCT) understands that every sample - stem cells, blood, eggs, sperm and other biospecimens - is critical, so our objective is to manage each one with optimal quality in the most efficient way. Bluechiip's advanced management solution is the only one that provides sample temperature with ID in cryogenic environments to. Most importantly, this delivers confidence in every sample.

Bluechiip's unique patented technology is a MEMS-based wireless tracking solution that contains no electronics. It represents a generational change from current tracking methods such as labels (hand-written and pre-printed), barcodes (linear and 2D), and Radio Frequency Identification. Bluechiip tags are either embedded or manufactured into storage products such as vials or bags. Each product can be easily identified, and critical information such as sample temperature, is detected by readers and stored in the Bluechiip software. In addition to functioning in extreme temperatures, the Bluechiip(R) Advanced Sample management solution can survive autoclaving, gamma irradiation sterilization, humidification, centrifuging, cryogenic storage and frosting.

Bluechiip's technology has applications in healthcare, including in cryogenic storage facilities (biobanks and biorepositories), pathology, clinical trials and forensics. Other key markets include cold-chain logistics/supply chain, security/defence, industrial/manufacturing and aerospace/aviation.

Bluechiip: Delivering confidence in every sample.

 

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Contact

Corporate enquiries
Andrew McLellan
Managing Director - CEO
Ph: +61-457-823-470
andrew.mclellan@bluechiip.com

Media
Richard Allen
Ph: +61-3-9915-6341
Oxygen Financial PR
richard@oxygenpr.com.au



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