RADISENS DIAGNOSTICS:A PORTABLE DIAGNOSTIC device that can provide blood and urine tests results in a GP's surgery within minutes has been developed by Cork-based firm, Radisens Diagnostics.
The digital device can diagnose early cancers, cardiac markers, infectious diseases and other blood-related illnesses.
Chief executive Jerry O’Brien says the system requires just a finger-prick of the patient’s blood, which is then placed on a clear plastic disc. This disc integrates all of the preparation steps, including plasma separation and reagent mixing.
The disc is then inserted into the battery-powered device and, in a few minutes, the results are available.
“It operates in a similar way to a CD player,” says O’Brien. “The plastic disc spins sending the blood to the edge where it is read by Radisens sensors.”
The process requires only minimal training, can be carried out by a GP nurse, and provides a laboratory-grade diagnosis in under 10 minutes.
A different disc is used to test for each ailment.
O’Brien says Radisens is the only firm offering this product, something that is not an accident. Unlike many start-ups which decide to commercialise third-level research or a business idea, when O’Brien and his team came together in 2008 they took a different approach.
“We had people with a very strong background in diagnostics and in consumer electronics. Therefore the obvious market for us was healthcare. But the question was: What should the product be?”
They decided to put market research before product development and spent up to nine months on the road meeting diagnostic firms and healthcare providers to find out what was needed.
“We were told people didn’t want to wait days for blood test results. So the solution is a highly portable device that can be in every GP surgery and provides laboratory-quality results within minutes.”
The company has built a prototype and is now working with a diagnostic equipment manufacturer to commercialise it. Patents have been filed for all of Radisens’ technology.
“We develop the core parts, the discs and the detection engine and then partner with diagnostic equipment manufacturers to customise the end instrument to their needs.”
They bring the instrument through regulatory approval and then distribute it through their existing sales and marketing channels.
Manufacturing of the electronics will be outsourced overseas, but all research and product development will be carried out in Cork.
Radisens employs seven people, a figure O’Brien hopes to double by the end of the year, based on the early market funding.
Last month, the company secured funding from European investment network Sophia Business Angels (SBA), bringing the total raised during the past 12 months to €750,000, including contributions from Cork City Enterprise Board and EU grants. He says the company is seeking further investment.
O’Brien expects distribution of the first batch of devices in early 2012 and says the US and private healthcare providers in the EU are the main markets. He says the point-of-care diagnostics market will be worth an estimated $25 billion (around €19.5 billion) by 2013.
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