“Radisens’ miniaturised POC device and consumable platform integrates different combinations of multiplexed high-sensitivity immunoassays, clinical chemistries, and haematology (cell counting) assays onto single consumable panels,” explained Frost & Sullivan Healthcare Industry Analyst Prasanna Vadhana Kannan. “These panels initially target long-term chronic disease management of thyroid disorders, chronic diabetes, cardiovascular disease, chronic kidney disease, and cell counting.”

This single device thereby effectively replaces the ten to fifteen stand-alone instruments that a physician would typically require for routine blood testing. Moreover, the interpretation of lab-grade data is instantaneous. All sample preparation and blood testing procedures are integrated into the test panel, thereby enabling accurate, highly sensitive, repeatable, sample-to-answer and quality assured results.

“Radisens’ technology platform is truly considered disruptive,” added Kannan. “It seamlessly converges consumer electronics, centrifugal microfluidics, and assay development to achieve smart decentralisation of medical diagnostics from a central reference laboratory into POC settings.”

This platform requires only a finger prick of blood and can deliver clinical results within minutes of blood draw. Through this approach, patients are more likely to improve prescription compliance and, in turn, significantly contribute toward a reduction in the risk factors for chronic disorders. This will impart healthcare systems globally with a much needed tool to combat rising chronic disease management costs.

Notable features that distinguish Radisens’ solution from other competing POC devices in the market include: all assay and sample preparation steps integrated onto a consumable panel, central reference laboratory performance, solid-state digital detection, analyte microanalysis algorithms, and, a single integrated device platform capable of multiplexed diagnostics across the three primary blood test categories of immunoassays, clinical chemistries and cell counting.

“Overall, the potential for Radisens’ diagnostic platform based on its real-time connectivity, sample-to-answer operation, high-degree of multiplexing, and low cost features is immense and is poised to revolutionise the integrated POC diagnostics market,” concluded Kannan.

Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of the uniqueness of its technology and its potential impact on new products/applications, on functionality and on customer value. The company is also commended for the relevance of this innovation to industry.

Frost & Sullivan Best Practices awards recognise companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.

About Radisens Diagnostics
Based in the Rubicon Centre, Cork, Radisens Diagnostics is breaking new ground in the decentralisation of routine blood testing from central reference laboratories into GP surgeries, outpatient clinics, hospital bedsides and other point-of-care settings. With a finger-prick of blood, this diagnostic device returns laboratory-grade results within minutes during a patients GP visit.

Radisens’ applications concentrate on chronic disease management – the monitoring of chronic conditions such as diabetes, heart disease, kidney and thyroid function, and cell counting, amongst others; all with a single portable analyser. With instant readout, this patented technology will remove the many anxious days or even weeks of waiting for routine blood test results, thus providing better patient care, significantly reducing healthcare costs and introducing much needed efficiencies into healthcare systems worldwide.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants.

Our “Growth Partnership” supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

• The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.

• The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Commercial contacts:
Jerry O’Brien
Radisens Diagnostics Ltd
E: info (at) radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

Emily Bailey
Best Practices, Frost & Sullivan
E: emily.bailey@frost.com
T: +44 (0)20 7915 7869

As part of the HIH, Radisens is planning a clinical reference testing site in partnership with the HSE and local hospitals. Access to the local healthcare system will allow the company to test and validate their advanced point-of-care technology in a controlled and regulated environment ahead of commercial launch. With Ireland spending up to €1.45 billion annually on managing chronic diabetes alone, the clinical reference site will pilot the design and efficient integration of this disruptive technology, which promises huge savings for chronic disease management.

About Radisens Diagnostics
Based in the Rubicon Centre, Cork, Radisens Diagnostics is breaking new ground in the decentralisation of routine blood testing from central reference laboratories into GP surgeries, outpatient clinics, hospital bedsides and other point-of-care settings. With a finger-prick of blood, this diagnostic device returns laboratory-grade results within minutes during a patients GP visit. Radisens’ applications concentrate on chronic disease management – the monitoring of chronic conditions such as diabetes, heart disease, kidney and thyroid function, and cell counting, amongst others; all with a single portable analyser. With instant readout, this patented technology will remove the many anxious days or even weeks of waiting for routine blood test results, thus providing better patient care, significantly reducing healthcare costs and introducing much needed efficiencies into healthcare systems worldwide.

Commercial contact:
Jerry O’Brien
Radisens Diagnostics Ltd
E: info (at) radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

Comprising part of Radisens point-of-care diagnostic platform, the proprietary digital HDR™ detection engine delivers industry leading multi-colour fluorescence and scattering sensitivity. This matchbox-sized HDR™ detection engine delivers a step-change in the market for portable multi-fluorescent flow cytometers, cell analysers and diagnostic devices. The six decades of optical dynamic range enables truly automatic sample-to-answer operation, with the digital solid-state technology removing the need for expensive maintenance cycles, while significantly reducing instrument cost.

Jerry O’Brien, CEO of Radisens Diagnostics said, “This strategic collaboration with Beckman Coulter demonstrates the disruptive nature of the diagnostics technology that we are developing at Radisens in terms of performance, cost and usability. This opens up huge growth opportunities in providing clinicians and researchers a powerful, low-cost diagnostic tool onto their desk with the advanced laboratory performance they require.”

Commenting on the deal, Mario Koksch, Director Product Management for Flow Cytometry at Beckman Coulter, Inc., said “We are very excited by the potential performance, cost and usability benefits that Radisens can bring with its proprietary HDR™ detection technology. We look forward to realizing the huge potential this offers within emerging high-growth flow cytometry markets, while maintaining a reputation for high performance.”

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

About Beckman Coulter
Beckman Coulter, Inc., based in Orange County, CA, develops, manufactures and markets products that simplify, automate and innovate complex biomedical tests. More than 275,000 Beckman Coulter systems operate in both diagnostics and life sciences laboratories on six continents. For more than 75 years, Beckman Coulter products have been making a difference in peoples’ lives by improving the productivity of medical professionals and scientists, supplying critical information for improving patient health and reducing the cost of care. For more information, visit www.beckmancoulter.com.

Commercial contact:
Jerry O’Brien
Radisens Diagnostics Ltd
E: info (at) radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

The ITLG shortlisted twenty companies for the awards, competing across five categories, from over 160 pre-screened high-tech startup and early stage companies at a series of workshops across Ireland last November. Chaired by former Intel chief executive Craig Barrett and run by John Hartnett, ITLG now has more than 4,000 members worldwide and forms a global network of Irish and Irish diaspora technology industry executives focused on helping Irish technology companies succeed.

Among the speakers and panellists appearing at the event were: Dr Craig Barrett, the former chairman and chief executive of Intel and current chairman of the ITLG; Roger McNamee, founder of Elevation Partners – the private equity firm where Bono is a partner and which has a significant stake in Facebook; John O’Farrell, partner in Andreessen Horowitz, the venture capital firm founded by Netscape web browser pioneer Marc Andreessen, which is one of the most active funds in the Valley, and Carl Schram, the economist and entrepreneur who is a former chief executive of the Kauffman Foundation.

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

About ITLG
Established in October 2007, the ITLG is an independent organization comprised of a number of high-level technology leaders in Silicon Valley who are Irish or Irish-American. The Group includes senior executives from some of the Valley’s leading corporations, each of whom are committed to promoting the technology connection between Ireland and Silicon Valley, and helping Ireland address the challenges of embracing new technology opportunities.

Commercial contact:
Jerry O’Brien
Radisens Diagnostics Ltd
E: info (at) radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

The licensed technology consists of a wide range of fundamental centrifugal microfluidic processes and structures which enable automated fluid processing of small sample volumes including valving, metering and mixing.  Also covered are specific applications including affinity-binding based assays and enzymatic assays.

Jerry O’Brien, CEO Radisens Diagnostics said, “Tecan’s significant IP portfolio of granted patents cover novel and pioneering centrifugal microfluidic technologies, enabling Radisens to integrate multiple chronic and acute blood tests at the advanced performance and cost targets required at point-of-care”.

In related news, Dr. Greg Kellogg has joined Radisens Diagnostics as Product Development Director and Boston Office Manager. Greg is an internationally recognised pioneer of centrifugal microfluidics with a proven track record of innovative technology development and has built innovative R&D organizations while at Gamera, Tecan, Network Biosystems and Protiveris. Throughout his career, he has developed novel microfluidic technologies with applications in clinical and molecular diagnostics, genotyping, drug discovery and forensics, developing disposables, instrumentation and reagent products.

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

Commercial contact:
Jerry O’Brien
Radisens Diagnostics Ltd
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

From left: Dr. Ian Hayes, Business Development Director at Radisens Diagnostics with Jerry O’Brien, CEO, Radisens Diagnostics and Anne Sheehan, IBM Sales Director at the recent IBM Start-up Primer event in Dublin which Radisens won.

Jerry O’Brien, CEO Radisens Diagnostics said, “Being one of the five finalists in London, gives Radisens a fantastic platform to demonstrate our unique point-of-care diagnostics proposition to IBM’s healthcare thought leaders and connectivity experts, as we explore areas of mutual cooperation and benefit”.

IBM launched the Global Entrepreneur initiative in early 2010. This initiative is designed to help start-up companies capture emerging business opportunities in fast-growing industries like energy and utilities, healthcare, communications and government, and work with a new generation of entrepreneurs to tackle some of the world’s most pressing issues — like healthcare, water, transportation and the environment — that will transform the way people live and work.

“In 2011, we have identified over 35 companies in Ireland that align to IBM’s smarter planet strategy in delivering new and more efficient solutions to todays business and social challenges”, said Noel Crawford, IBM’s Innovation Centre and Developer Relations Manager. “It is great to have such strong Irish companies as Radisens Diagnostics at our events, companies that are providing potential game changing solutions for peoples lives.”

Part of the IBM Global Entrepreneur initiative is IBM SmartCamp. IBM is gathering industry leading mentors from investment firms, serial entrepreneurs, academics, marketing, communications and technology experts in London, to meet with five of Europe’s most promising technology startups from the IBM SmartCamp initiative. A series of nine SmartCamp events are planned around the world to climax in the world finals event in Silicon Valley early in 2012.

Radisens also announced today the launch of their 2011 Business Expansion Scheme to allow private investors participate in the growing success of the company. More information on this unique investment opportunity, which is compatible with the recently announced Employment and Investment Initiative Scheme, may be requested at www.radisens.com/contact or through an email to info @ radisens.com.

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

Commercial contact:
Jerry O’Brien
Radisens Diagnostics Ltd
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

Congratulating the company, Sean Sherlock, TD, Minister for Research and Innovation, said “Radisens Diagnostics’ success is the most recent example of an Irish company reaping significant benefits from Ireland’s membership of the European Space Agency (ESA) through Enterprise Ireland. It is encouraging to see that Irish SMEs are developing a high profile as providers of innovative solutions for use in the European Space Programme”.

The European Space Agency has contracted Radisens Diagnostics to add a thyroid test to their point-of-care device which is currently in development at their facility in Cork. ESA wants to use the device on board the International Space Station and on various human spaceflight missions where it is essential to get instant, laboratory grade results for myriad health conditions.

Back on Earth, the technology developed for the space programme by Radisens Diagnostics will enable a general physician (GP) to take a finger-prick of blood and test patients for diabetes, heart disease, liver and kidney damage and thyroid conditions in their surgery with instant results. Future developments will enable the diagnosis of heart attacks, early stage cancers such as prostate and ovarian, infectious diseases such as HIV, and viruses. With a over one billion blood tests ordered at point-of-care annually worldwide, this test menu offering is a potential game-changer.

Currently, if a person needs a blood test they have to be referred to a hospital where a qualified phlebotomist takes a vial(s) of blood which has to be sent to a central laboratory for testing. The whole process introduces significant delays, patient anxiety and huge inefficiencies within healthcare systems, for what are routine tests.

Radisens Diagnostics recently announced a strategic partnership with the UK’s NHS, to integrate a kidney test to their point-of-care device, thus decentralising up to 15 million blood tests from UK hospitals annually into the GP surgery, providing for a more comfortable and convenient experience for patients suffering from chronic kidney disease, and significant cost savings for the NHS.

Announcing the contract, Jerry O’Brien, CEO Radisens Diagnostics said, “Winning this contract from the European Space Agency is a significant endorsement of our ‘sample-to-answer’ device and the breadth of blood tests it can offer. We are delighted to formalise our strategic partnership with ESA with the support of Enterprise Ireland and look forward to working on the application of our technology to terrestrial and space healthcare diagnostic needs”.

Radisens Diagnostics Ltd is located in the Rubicon Centre, which is a business incubation centre funded by Enterprise Ireland and Cork Institute of Technology, is funded by private investors, Kernel Capital, Enterprise Ireland, France’s Sophia Business Angels and the Cork City Enterprise Board and will shortly be launching it’s 2011 Employment and Investment Incentive Scheme (which replaces previous Business Expansion Schemes) to allow Irish private investors to share in the company’s growing success.

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

About Enterprise Ireland and the European Space Agency
The European Space Agency (ESA) is the intergovernmental organisation that promotes co-operation among European States in space research and technology and their space applications for scientific purposes and for operational space applications systems. Ireland’s membership of ESA permits Irish companies and research teams to bid for ESA contract development work in a range of space programmes.

Enterprise Ireland is the Irish body responsible for co-ordinating Ireland’s industrial and research participation in the programmes of ESA. Its role is to assist Irish companies to successfully bid for ESA contracts. Enterprise Ireland provides a source of expertise for Irish companies in developing and executing space strategies, Irish industrial participation is primarily in the engineering, aerospace, software, electronics, optoelectronics and telecommunications sectors.

The level of spin off export sales (including direct ESA contracts) from Irish investment in ESA is estimated at €35m in 2010 and projected to grow substantially as the number of Irish companies securing ESA contract continues to expand, and as existing Irish ESA contractors progress from intensive R&D phase to commercial exploitation phase.

Commercial Contact:
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

Supported by NHS East of England, the European Regional Development Fund and the Technology Strategy Board, the East of England Small Business Research Initiative is looking to industry to commercialise innovation that can be shown to make a difference to the care of people with long-term conditions. Administered by Health Enterprise East (HEE), the NHS innovation partner organisation for the East of England, this builds upon the outcomes from the NHS East’s Working Group to review the productivity opportunities and health economic benefits offered by utilising appropriate diagnostic tests in community settings.

Karen Livingstone, Director of Strategic Partnerships at NHS East of England said: “It is estimated that around one in three people are living with a long-term condition which not only creates real personal challenges, but also increases the cost of healthcare. New technologies will mean that in the future, more people will be able to receive treatment in their own homes, with their condition monitored and managed without having to visit or stay in a hospital. This not only makes for an improved patient experience but also saves healthcare resources and costs which currently amount to £7 out of every £10 being spent on long-term conditions.”

Radisens Diagnostics has the only point-of-care platform to integrate immunoassay, biochemistry and haematology tests onto a single mini-disc panel, to diagnose and monitor patients for multiple chronic and acute care conditions. This project targets the integration of a creatinine (kidney) test on to Radisens’ lon-term chronic care panel. Using a finger-prick of blood applied to the panel, the Radisens diagnostic device returns results within minutes. This chronic care panel will enable the GP to actively monitor long-term chronic disease patients for diabetes, heart disease, hypertension and chronic kidney disease, resulting in better patient care and significant productivity gains and efficiences in the healthcare system.

Jerry O’Brien, Radisens Diagnostics’ CEO said: “We are delighted to be working with the NHS in the East of England to deliver on their visionary requirements for testing of long-term chronic care conditions. Decentralising the long-term disease management to point of care, leads to significantly improved patient care, and productivity gains and efficiencies within the healthcare system”

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

About Health Enterprise East
Health Enterprise East Limited (HEE) is the NHS partner organisation for Innovation. HEE is committed to improving healthcare through supporting the development of innovative new products and services which meet the needs of the NHS. HEE provides a broad range of services to NHS organisations, providing expert advice, funding and support to NHS innovators to translate their ideas into practice. Operating within the NHS, HEE also provides consultancy services to technology based companies looking to access the UK market. HEE works with clinical key opinion leaders and senior NHS managerial, commissioning and procurement staff on a daily basis. Our NHS market assessments provide vital information for companies to ensure that their products are well targeted to the technical and business needs of the NHS, speeding up adoption of new technology by the NHS. Health Enterprise East is based at Papworth Hospital Cambridge, one of the leading UK Cardio/Respiratory Research and Treatment Centres.

Commercial Contact:
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

Jerry O’Brien, Radisens’ Chief Executive, commented: “We are delighted to appoint someone of Neil’s calibre to the Board. He brings a wealth of commercial and operational expertise and his experience of building small, innovative businesses into multimillion pound companies is invaluable”.

Neil Butler added “What attracted me to Radisens is the compelling commercial vision and the breadth of the platform in being able to handle biochemistry, immunochemistry and hematology assays, all multiplexed on to a single panel. I look forward to working with such an innovative company that has the potential to transform the point of care sector.”

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

Commercial Contact:
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909

Commercially available, rapid, multiplexed screening tools are urgently needed to enable early detection of a multitude of diseases for patients and to manage already diagnosed conditions. Radisens is developing a single instrument to test for multiple diseases that requires only a single drop of blood and can be performed and interpreted by any general physician within minutes. No such solution currently exists; various companies have developed instruments which only part-test separately for some blood ailments and diseases. The Radisens solution will enable test results to be shared instantaneously with patients for chronic conditions (diabetes, hypertension, chronic kidney disease), infectious diseases, thyroid function, early cancers, cardiac ailments and virus diagnosis.

Radisens’ technology has the potential to decentralize clinical blood testing into point-of-care settings such as GP clinics, outpatients departments, emergency rooms and small to medium sized hospital labs. Blood testing at point-of-care can save lives, deliver significant productivity gains and work practice efficiencies, reducing patient waiting lists and pressures on hospital beds required, and ensuring optimal use of professional time.

Commenting on the announcement, Niall Olden, Managing Partner, Kernel Capital said: “Radisens is another example of an excellent life science start-up. Led by Jerry O’Brien, the company has strong intellectual property with many worldwide patents pending. The company has established significant commercial relationships and anticipates first commercial revenues within 12 months.”

Jerry O’Brien, CEO, Radisens Diagnostics added: “Attracting such a high calibre investor at this early stage in Radisens’ development significantly endorses our unique value proposition, in what is an $8 billion market segment. Radisens’ innovative convergence of medical diagnostics and consumer electronics fields will transform this sector, uniquely addressing clear unmet clinical and commercial needs.”

Donal Duffy, Head of Enterprise Ireland Relations, Bank of Ireland said: “We are delighted to add Radisens Diagnostics to the long list of cutting edge companies supported by Bank of Ireland funds. We are pleased to support the Company along with Kernel Capital who can also bring its expertise in medical diagnostics and semiconductors together in this investment in Radisens which is a fusion of both technologies.”

Welcoming the announcement Greg Treston, Head of High Potential Start Ups at Enterprise Ireland, said: “Enterprise Ireland is delighted to have supported this highly innovative ambitious company. Our priority is to grow a strong base of innovative indigenous companies with the products and services and business development strategies capable of winning new export markets and growing jobs in Ireland. We look forward to working closely with Radisens Diagnostics in developing this exciting project.”

About Radisens Diagnostics
Radisens Diagnostics develops disruptive point-of-care diagnostic platforms and multiplexed test panels, which diagnose and monitor patients for multiple chronic and acute care conditions. This is the only point-of-care platform to integrate immunoassay, biochemistry and cellular haematology onto a single test panel. Using a finger-prick of blood, the analyser returns laboratory-grade results in the doctor’s office within minutes. With offices in Cork, Ireland and Boston, Massachusetts, Radisens Diagnostics is a convergence of medical diagnostics and consumer electronics using disruptive patent pending technology to deliver on the significant market and clinical need for decentralising diagnostics into point of care settings such as doctor’s offices, outpatient and emergency room departments, intensive care units and hospital bedsides.

About Kernel Capital
Kernel Capital and its associate Life Science investment firm Seroba Kernel have in excess of €196m under management in six separate Venture Capital funds, investing in ICT, Life Science and general seed and early stage investments. These funds are supported by Enterprise Ireland, Bank of Ireland, University of Limerick Foundation, NUI, Galway and a range of other financial institutions. They have invested in Kernel Capital’s portfolio of 51 companies which collectively employ in excess of 800 people and have been granted over 150 scientific patents. Kernel Capital and Seroba Kernel are committed to dynamic, innovative, knowledge based companies and led in excess of €96m in syndicated investment in 2010. Kernel Capital believes that it is an exceptional time for investment.

Bank of Ireland Seed and Early Stage Equity Fund
The Bank of Ireland Seed and Early Stage Equity Fund is a €32m Fund that invests in start-up and early stage companies, with a focus on export orientated high potential start-up companies that operate in the technology (including green technology), food and financial services sectors, in addition to supporting patent and patent pending projects within Irish universities. It is managed on behalf of Bank of Ireland and the other partners by Kernel Capital. This fund comprises of an investment by Bank of Ireland, Enterprise Ireland, University of Limerick Foundation and NUI Galway. The €10m Bank of Ireland MedTech Accelerator Fund is part of this Fund.

About Enterprise Ireland
Enterprise Ireland, the Irish government agency responsible for the development and growth of Irish industry, is actively involved in supporting early stage high potential start-ups. With over 80 new direct equity investments annually in these businesses, and through its investment in 41 seed and venture capital funds, Enterprise Ireland is now the largest early stage VC investor in Europe in terms of the number of investments made. In addition, through its network of 31 international offices, Enterprise Ireland actively supports Irish companies to grow their export markets and create valuable jobs in Ireland.

Commercial Contact:
E: info @ radisens.com
T: +353 21 4868190 / Fax: +353 21 4928909