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EU backing for Cork company

Wednesday, 16th May, 2018 9:52am

A Cork based company has received EU funding to develop a product which tests for preeclampsia. 
Metabolomic Diagnostics, based in Little Island, is set to receive €2 million in EU funding under the Horizon 2020 SME Instrument, which received a total of 1,280 applications from all over Europe.
One of only three Irish companies to receive this funding, the Cork-based biotech company 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.  
PrePsia has the potential to transform prenatal care by allowing clinicians to administer effective treatments early that can dramatically reduce the incidence of the disease thus improving pregnancy outcomes whilst lowering healthcare costs for treating the disease.   
Charles Garvey, CEO of Metabolomic Diagnostics said: “This award will be used to accelerate our go-to-market strategy. We plan to market the product next year, and now with this support from EU, we believe that PrePsia has the potential to become part of pregnancy screening programs worldwide. 
“The award is recognition by the European Union of the huge progress we have made to date and the enormous societal benefit that our innovative test will bring to expectant mothers and their babies all over the world.”
A statement from Metabolomic Diagnostics says that 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, with survivors of the disease have a lifelong increased risk of developing a range of health problems.
 

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