By Olivia Kelleher
A Cork company is due to receive €2m in EU funding to promote their pregnancy screening test for pre-eclampsia.
Little Island based biotech company, Metabolomic Diagnostics, will use the award to commercialise its breakthrough product, PrePsia.
PrePsia is a simple blood test taken in early pregnancy, which can identify whether a woman may develop Preterm Preeclampsia.
Preeclampsia is one of the biggest risks that women face during a pregnancy, claiming the lives of 75,000 mothers and 500,000 babies annually.
The firm says that their screening has the potential to transform prenatal care by allowing clinicians to administer treatments early that can dramatically reduce the incidence of the disease.
Charles Garvey, CEO of Metabolomic Diagnostics, said the award will be used to accelerate their go-to-market strategy.
"We plan to market the product next year, and now with this support from the EU, we believe that PrePsia™ has the potential to become part of pregnancy screening programs worldwide."
[timgcap=Pictured with four-day-old baby Molly, are Frank Walsh, Partner, Enterprise Equity, Bill Liao, European Investment Partner, SOSventures, Charles Garvey, CEO, Metabolomic Diagnostics, and Prof. Louise Kenny, Consultant Obstetrician at CUMH. Picture: Diane Cusack]MetabolomicDiagnostics16June16_large.jpg[/timg]
He stresses the award is recognition by the European Union of the huge progress they have made to date and the enormous societal benefit that their test will bring to expectant mothers and their babies all over the world.
Metabolomic Diagnostics has previously been supported by the EU through FP7 funding, as well as private investors, SOSV, Enterprise Equity AIB Seed Capital Fund and Enterprise Ireland.
Sean Burke, Horizon 2020 National Delegate, Enterprise Ireland says they are focused on nurturing and developing the innovative solutions and capabilities of SME's.
"This is an excellent win for the team at Metabolomic Diagnostics and we look forward to working closely with the company in the future."