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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."

Background:

About STAT-Dx

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.