Radisens Diagnostics to get investment for screening tool

30 May 2011

Medical diagnostics start-up Radisens Diagnostics is to receive a €1.1m investment led by Kernel Capital, which will help it to continue its screening tool for diseases.

The investment is made up of a €500,000 investment by the Bank of Ireland MedTech Accelerator Fund with the remainder of the funds provided by Enterprise Ireland, and private angel investors sourced by the company.

Radisens is developing an instrument to test for multiple diseases that requires only a single drop of blood and can be performed and interpreted by any general physician within minutes.

No such solution currently exists; various companies have developed instruments which only part-test separately for some blood ailments and diseases.

The Radisens solution will enable test results to be shared instantaneously with patients for chronic conditions (diabetes, hypertension, chronic kidney disease), infectious diseases, thyroid function, early cancers, cardiac ailments and virus diagnosis.

Ability to test in GP offices

Radisens’ technology has the potential to bring clinical blood testing into point-of-care settings such as GP clinics, outpatients departments, emergency rooms and small to medium-sized hospital labs.

“Radisens is another example of an excellent life science start-up. Led by Jerry O’Brien, the company has strong intellectual property with many worldwide patents pending. It has established significant commercial relationships and anticipates first commercial revenues within 12 months,” said Niall Olden, managing partner, Kernel Capital.

Article courtesy of Bizstartup.ie