gMendel® announces a 200.000 Euro grant from the Innovation Fund Denmark
19 May, 2022, Copenhagen – gMendel announces that the Innovation Fund Denmark has invested 200,000 Euro in our novel diagnostic technology. The grant will enable us to further develop our technology for the detection of the most common aneuploidies, microdeletion syndromes & the 3 diseases that comprise the Basic Carrier Testing for all ethnicities (Fragile X, Cystic Fibrosis, Spinal Muscular Atrophy).
Dr. Chris Kyriakidis, CEO and co-founder of gMendel, commented: “We are very pleased to have received this grant from the Innovation Fund Denmark, which will allow us to further develop our novel In-Vitro Diagnostic (IVD) technology and expand its efficacy to more genetic disorders, leveraging on the full potential of our Phivea® platform.”
Currently, there are 350 million people worldwide suffering from rare genetic disorders (GDs), half of them children. Diagnosis of GDs relies on a set of non-accurate conventional techniques, as advanced genomic technologies are still costly and complex. As a result, even after dozens of medical examinations and an average 7-year painful journey, 40% of patients are still misdiagnosed, creating a heavy human, economic and societal burden, with estimated lifetime costs of €2.5 million. The low accuracy of the conventional techniques is a challenge, which impacts the willingness of the National Health Systems (NHS) and Health Care Professionals (HCPs) to include them timely in their routine practice. Basic Carrier Testing (BCT), Non-Invasive Prenatal Testing (NIPT), Newborn Screening programs (NBS) exist in many states and countries, but are not harmonized, leading to significant disparity and discrepancies, both in terms of the access to screening and the number of GDs screened, ranging from 2 to 30.
The gMendel® technology aims to revolutionize the BCT, NIPT and NBS in Europe and around the world through introduction of a harmonized screening panel, using accurate genomic technology combined with AI/machine learning and blockchain. The gMendel®Test allows for real-time and reliable screening that can be made available widely at a low cost, ensuring the highest security & patient data encryption.
gMendel® is a Danish medical innovation growth company that aims to transform the diagnosis of genetic disorders for better disease management. gMendel® applies rigorous science and does tireless research to develop medical technology solutions that will help patients live longer and better. The gMendel® technology combines genomics, artificial intelligence and blockchain technology to provide a shorter, safer and more cost-effective path to accurate diagnosis and potential treatment, ensuring the highest security and encryption of patient data. gMendel®’s products and services accelerate the diagnosis journey and advance inclusion, diversity and equity in care and treatment. For more information, visit: https://www.g-mendel.com/
About the Innovation Fund Denmark
The Innovation Fund Denmark invests in entrepreneurs, researchers and businesses that create value for Denmark and new solutions to society’s biggest challenges. The organization funds risk-high potential projects with areas of interest in a more effective health care, cleaner environment, climate mitigating solutions, healthier food, green transport, start-up journeys – and many more. Its mission is to strengthen and foster strategic research and innovation projects in all of Denmark. For more information, visit: https://innovationsfonden.dk/en
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