Dr Martin Jones of Izon Science, which is the recipient of a $500,000 grant from the Government.
A New Zealand company with the technology to detect viruses like the recent outbreak of swine flu has received a funding boost to further its research and development.
Izon Science executive chairman Hans van der Voorn said the $500,000 grant from the Government's Foundation for Research, Science and Technology (FRST)
had enabled it to hire four new staff to undertake research proving the reliability and consistency of its nanotechnology.
It is the second time the company, founded in 2005 by van der Voorn and three scientists, has received a grant from the Government body.
Van der Voorn said the latest injection was crucial.
"In the current economic climate, where money is particularly tight, the funding is very helpful in allowing us to keep growing."
Izon's device measures and identifies nanoparticles as they pass through a hole or aperture.
Van der Voorn said the technology could be used for a range of applications including the measurement of viruses, analysing nanoparticles such as the level of toxins in a particular environment and identifying bio-molecules like protein.
Its main advantage against competitors was size. Van der Voorn said scientists were currently working with devices the size of a fridge but Izon's device was similar in size to a domestic coffee grinder which meant it could be transported easily.
So far the company has sold only 25 units but Van der Voorn planned to fully commercialise the device by June to sell 140 in the next year before ramping up sales even further.
At €5000 ($11,600) each, van der Voorn said he expected research facilities to buy a number of the devices.
But where Izon hoped to have an ongoing revenue was through selling the aperture sheets. The sheets are cheap but must be replaced every few days depending on usage.
The device has been sold into 10 countries so far but van der Voorn said it was now focusing on Australia, Singapore and the United Kingdom.
He expected the company to become profitable within 12 months.
Izon is also hoping to set up a research lab with Victoria University in the next few months to provide a platform for identifying viruses.
FRST's Tech NZ business manager Lins Kerr said the investment would help the company to overcome barriers to international sales.
