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Grants are a strong vote of confidence for medical start-ups to dramatically reduce the clinical and economic burden.
FREMONT, CA: NanoVation, an Israeli medical start-up bags 2.5 million grant as part of the European Unions’ prestigious Horizon 2020 EIC Accelerator program. Horizon 2020 is the biggest EU Research and Innovation program ever, and it supports Small and Medium-sized Enterprises (SME) with breakthrough innovation projects and aims to promote and fund discoveries and world-firsts by taking unique ideas from the lab to the market.
NanoVation is an expert in developing a new respiratory monitoring device, based on its proprietary nano-sensor technology. The device targets monitoring and management of patients with various respiratory conditions such as Chronic Obstructive Pulmonary Disease (COPD), which was cited as the third leading cause of death in the world by the World Health Organization. The grant will be used within the SenseGuard project and will enable NanoVation to further develop and commercialize their SenseGuard "¢ device for monitoring patients at hospitals and at home.
SenseGuard is a wireless wearable medical device for continuous monitoring of patients' breathing, based on the start-up's unique technology. The device has already gone through clinical trials and received CE marking, proving that the technology is both safe and highly accurate in monitoring the respiration of patients. It is currently being used for patients in hospitals in Israel and the EU for further clinical research of its state-of-the-art capabilities.
The pioneering device aims to enable identification of the early signs of deterioration in lung function and enables early treatment. The cost of preventive intervention and treatment ranges from tens to hundreds of dollars, while they reduce unnecessary hospitalizations, which would cost between $10,000 and $40,000 for an individual in the US and between ‚¬3,000 and ‚¬10,000 in Europe, and translate into billions of dollars annually for the entire health system.