The European Investment Bank (EIB) has agreed to lend up to EUR 10 million to Scope Fluidics, a Polish medical technology company developing innovative products in the field of medical diagnostics.
Scope Fluidics uses microfluidic technologies (involving the manipulation of small quantities of test samples within a disposable diagnostic cartridge) and focuses on rapid characterization of antibiotic resistance of bacteria and on ultra-fast detection of bacterial and viral pathogens (including coronavirus).
The EIB financing will support the company’s efforts to develop new, efficient and affordable methods for detection of pathogens causing infectious diseases, including coronavirus.
Apart from striving to aid the fight with coronavirus pandemic, Scope Fluidics’ team is also focused on the Antimicrobial Resistance (“AMR”), which is one of the gravest threats to global health. Testing a broader range of infectious diseases may significantly increase the standard of care and the effectiveness of prevention of complications in the evolving pandemic.
By sustaining the company’s further clinical trials that will allow the commercial launch of the system, the EIB helps address a market gap in available financing options for innovative players active in developing new vaccines and drugs, innovative medical and diagnostic devices or novel research infrastructure for combatting infectious diseases (ID).
The project has also the potential to foster growth in this sector and create new jobs in Poland and in the EU for highly skilled people and in the field of research and development.
The financing comes from a joint European Commission and EIB initiative – the Infectious Diseases Finance Facility (IDFF) – backed by the Horizon 2020, the EU Research and Innovation programme 2014-2020.
It will be the first project in Poland under the IDFF. To date, 14 operations have been signed in Europe under IDFF for a total amount of EUR 372m. ■
A low pressure wave forming along a cold front will track across the New England coast this morning, bringing a period of rain, heavy at times for much of New England, especially for Maine today.