€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, a private venture-backed diagnostics company, is breaking new ground in the decentralisation of routine blood testing from central reference laboratories into physician offices, outpatient clinics, pharmacies and other near-patient test settings. With a finger-prick of blood, this multi-mode diagnostic device will return laboratory-grade results instantly within a patient’s physician visit.

Radisens’ initial menu concentrates on panels for those suffering with high-burden chronic disease resulting in improved patient outcomes and more efficient healthcare management. By integrating immunoassay, clinical chemistry, cell counting and other test modes, this near-patient device will finally open blood testing access to all with instant diagnosis and monitoring. The fear of needles, the many anxious days or weeks of waiting for results, the multiple physician visits, will all be things of the past.

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.

Commercial Contact:
Jerry O’Brien, Radisens Diagnostics Ltd.
E: info (at) radisens.com
T: +353 21 233 9140