European Commission Grants MeMed $3.3 Million Award
Israeli devicemaker MeMed announced the receipt of a $3.3 million grant from the European Commission to support development of its ImmunoDx for respiratory disease.
The award, granted through the Commission’s Horizon 2020 Small and Medium-Sized Enterprise Instrument initiative, provides funding for products with the potential to dramatically impact the EU economy and global healthcare.
MeMed will use the money to ensure the second-generation ImmunoDx can take measurements of a patient’s immune response to infection at the point of care, and to fund a multicenter study evaluating the device for patients with lower respiratory tract infection.
Lower respiratory tract infections affect 30 million people in Europe each year, resulting in over 1 million hospitalizations and 230,000 deaths, according to company estimates. — Jason Scott