Glyconics wins Innovate UK grant for point-of-care device
Cambridge business developing point-of-care testing for several disease areas has secured an unspecified grant from Innovate UK to advance commercialisation of its technology.
Glyconics is pioneering its device in a broad range of areas including oncology, urology and particularly chronic obstructive pulmonary disease (COPD) as the latter is a widespread condition in need of diagnostic innovation.
Success in this area promises major financial rewards as the COPD market in particular is huge. A staggering 200 million people in the EU, UK, US, China and India have COPD6, with 36.6 million newly diagnosed cases each year. Around 1 in 10 of these patients are at risk of exacerbations and need daily monitoring, adding up to 1.3 billion tests per annum.
Glyconics, based at St John’s Innovation Centre in Cambridge, believes it is perfectly placed to meet the need for diagnostic innovation in this area.
To date, IR Spectroscopy could only be undertaken in a laboratory by highly trained staff. With Glyconics technology, however, that’s changing. Glyconics is developing a compact, cost-effective way of using IR spectroscopy for point-of-care testing. Its hand-held device identifies spectra waves from samples resulting in highly accurate diagnostic data in minutes.
The quality of the project is such that the European Commission has awarded Glyconics a coveted Seal of Excellence certificate, following evaluation by an independent panel of international experts.
CEO Dr Kam Pooni (pictured) said: “This award is another step forward in the development of our technology. This grant is recognition from a respected organisation for the scope of our ambition in the life sciences sector and the value of our technology in the clinical arena.”