MeMed wins European Innovation Council multi-million dollar grant to accelerate the launch of a point-of-care platform that distinguishes between bacterial and viral infections.
By ISRAEL21c Staff
Haifa-based MeMed has received €2.5 million from the European Innovation Council (EIC) to accelerate expansion of its platform to distinguish rapidly whether an infection is bacterial or viral.
MeMed’s immune system-based test is used at the point of care, supporting physicians in deciding whether antibiotic treatment is appropriate.
MeMed first won the EIC Accelerator (SME Instrument) Award in 2015, and now is one of the few companies ever to win it twice. Fewer than 5% of applicants are selected for the highly competitive award to support small and medium-sized companies with breakthrough innovations and the potential to create or redefine markets globally.
“This award recognizes the urgency of challenging the status quo in antibiotic prescribing and addressing the overuse of these important medicines, which leads to antimicrobial resistance, an increasingly serious threat to global public health that MeMed’s disruptive technology suite is uniquely positioned to combat, ” said Kfir Oved, MeMed’s chairman, CTO and cofounder.
MeMed will use the funding to broaden the test’s suitability across diverse clinical settings, and to generate additional clinical validation evidence.
The first version of the test, called ImmunoXpert, is cleared for use in the European Union, Switzerland and Israel and is currently in pilot distribution in these markets.