Radisens awarded €4.5M for diabetes menu development
€4.5M award for diabetes menu development
EC funding to integrate diabetes, cardiovascular & kidney function test panels
Cork – Jun 23, 2015 – Radisens Diagnostics, a medical diagnostics company developing a near-patient device to instantly test for high-burden chronic disease anywhere, announced today that it has been awarded a €4.5m grant from the European Commission’s SME Instrument initiative. As part of the EC’s Horizon 2020 Research and Innovation programme, the €3bn SME Instrument hand-picks potentially disruptive businesses to invest and support.
“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”, commented Radisens’ CEO, Jerry O’Brien. “Integrating diabetes, cardiovascular and kidney function panels onto Gemini™ will impact people’s daily lives”. Radisens will use the funds to integrate such panels on to its Gemini™ near-patient platform, giving instant results from a fraction of a drop of blood.
Near-patient blood testing is one of the fastest growing segments of the healthcare industry, fuelled by the push towards improving patient outcomes, healthcare efficiencies and quality standards. It closes the linkage between diagnostics and therapeutics, as current lab tests require days before results are available. O’Brien adds, “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”.
About Radisens Diagnostics
Radisens’ mission – to help shape decisions in healthcare by developing a point of care monitoring platform for integrated care management; testing at the right place, at the right time to enable better informed clinical interventions.
Radisens’ focus is to improve the management of high cost chronic diseases. Our early focus is on diabetes and cardiovascular disease, and their associated complexities and complications.
Our vision is to empower both those living with these conditions and their healthcare providers to reduce the challenges and costs of managing these conditions.
Radisens Diagnostics Limited is an established in vitro diagnostics company and was incorporated in 2009 based in Cork, Ireland
About the EC’s Horizon 2020 & SME Instrument
Horizon 2020 is the biggest European Commission Research and Innovation programme ever with nearly €80bn of funding available over 7 years (2014 to 2020). Horizon 2020 funds high-potential innovation through a dedicated SME instrument. Provided with about €3bn in funding over the period, the SME Instrument helps high-potential SMEs to develop groundbreaking innovative ideas for products, services or processes that are ready to face global market competition. Available to SMEs only, the new scheme has opened a new highway to innovation through phased, progressive and complimentary support.
The dedicated SME instrument’s supports close-to-market activities, with the aim to give a strong boost to breakthrough innovation. Highly innovative SMEs with a clear commercial ambition and a potential for high growth and internationalisation are the prime target. More details are available at the Horizon 2020 SME Instrument portal.
Jerry O’Brien, Radisens Diagnostics Ltd.
E: info (at) radisens.com
T: +353 21 233 9140