Radisens Diagnostics awarded €4.5m to develop disease test
Firm gets funding under Horizon 2020 programme
Photograph: Simon Dawson/Bloomberg
Venture-backed medical firm Radisens Diagnostics has been awarded a €4.5 million grant under the Horizon 2020 programme, as it develops a device that can instantly test for high-burden chronic disease anywhere.
The company will use the funding to integrate panels for diabetes, cardiovascular and kidney function on to its Gemini platform, allowing instant laboratory-grade results from a drop of blood. Current lab tests can take several days to produce results.
“We are delighted with this significant endorsement from the EC, in support of our vision of instant testing of any high-burden chronic disease anywhere”, said chief executive Jerry O’Brien. “Radisens’ vision is that of a confirmed diagnosis, clinical counselling and prescribed therapies all within a single physician or pharmacy visit, without fear of needles or anxious days of waiting for results, thereby empowering patients to better manage their chronic disease.”
The funding was awarded under Horizon 2020’s SME Instrument, which has about €3 billion in funding over the period 2014 to 2020 to invest in potentially disruptive businesses and high-potential SMEs to develop groundbreaking innovative ideas for products, services or processes.