An Irish biotechnology company has been awarded €2.5m in European funding for its Covid-19 response technology.
RemedyBio was selected from almost 4,000 companies submitted proposals to the European Innovation Council (EIC) Accelerator Pilot in March, from which 72 secured funding across Europe. Eight Irish companies have secured over 10% of the funding, ranking second in countries awarded funding.
The company's technology is designed to rapidly analyse millions of single immune cells from an individual sample. This presents an opportunity to rapidly identify the best antibodies from the immune systems of Covid-19 infected patients for which to create a rapid passive therapeutic vaccine for those that are critically ill from the virus.
The Dublin based company is supported by Enterprise Ireland and its flagship Nanoreactor technology was developed through a multi-year partnership with Dublin City University.
Paul Leonard, the company's co-founder and Chief Scientific Officer said the EIC support will allow RemedyBio to industrialise their technology to help in the fight against Covid-19 and future pandemics, getting better medicines to patients, faster.
"This award also recognises the support RemedyBio have received from Enterprise Ireland, Science Foundation Ireland and DCU who has been a key partner to us in helping Remedy create one of the worlds most advanced discovery engines to fight COVID-19.”