Faster diagnosis saves lives: €20 million EU loan to develop new device to quickly identify pathogens causing meningitis and other infectious diseases
Brussels, 1 June 2017
An EU loan of €20 million will support a Barcelona-based start-up to develop and commercialise a device capable of identifying within an hour a range of infectious pathogens, such as those contained in meningitis, respiratory or gastro-intestinal infections.
This loan is signed under the InnovFin Infectious Diseases Finance Facility (a part of InnovFin – EU Finance for innovators), which aims to help innovative firms developing solutions to combat infectious diseases to access finance more easily.
Carlos Moedas, Commissioner for Research, Science and Innovation said: "This loan is an example of how the European Commission employs innovative financing mechanisms to support the fight against major threats to society, such as antimicrobial resistance. With this project, a quick diagnosis will enable better clinical decision making and targeted patient management, and speed up the development of an innovative diagnostics platform for infectious diseases."
Founded in 2010 and supported by leading international healthcare investors, STAT-Dx (formerly STAT-Diagnostica) focuses on the development, manufacturing and commercialisation of closer-to-care diagnostic solutions in areas where fast and accurate diagnostic results are crucial, such as infectious diseases and critical care. Its DiagCORE® in-vitro diagnostic system is a versatile, easy-to-use platform that consolidates molecular and immunoassay techniques in a single device.
About InnovFin – EU Finance for innovators
InnovFin – EU Finance for innovators programme consists of a new generation of financial products and advisory services which will make more than €24 billion of financing support available to companies for high-risk research and innovation projects. Loans, guarantees and equity investments are provided by the European Investment Bank Group (EIB and EIF), with a financial guarantee provided by the EU's research and innovation funding programme, Horizon 2020.