Subjects: PDT, ACC, VEN, TRI
Nucleix Receives ?2.5 Million in Funding from the European H2020 / EIC pilot SME Instrument Programme, for Its Lung Cancer Diagnostic Tool
REHOVOT, Israel, July 30, 2018 /PRNewswire/ -- Nucleix Ltd., a leading cancer detection and screening company, announced today that it has received ?2.5 million in funding, following its application to the highly-selective EIC pilot SME Instrument Phase 2 European programme.
EIC pilot SME Instrument Phase 2 is part of Horizon 2020, a ?80 billion funding programme managed by the European Commission and dedicated to innovation and research. It is part of the Industrial Leadership pillar of H2020 and seeks to support fast-growing, highly innovative SMEs with global, international ambitions. Nucleix received the funding for its innovative Lung EpiChecktm , a screening diagnostic blood test for early detection of lung cancer. The test is based on proprietary molecular biomarker technology, which combines new biochemical assays and sophisticated algorithms. The technology is based on identification and analysis of subtle changes in DNA methylation patterns, a powerful tool for distinguishing between cancer and healthy cells and thus for detection of tumors in the body.
"We are extremely proud to have been found worthy of the Horizon 2020 EIC pilot SME Instrument Phase 2 funding, especially since the competition was intense," said Opher Shapira, PhD, CEO of Nucleix. "This recognition confirms the potential of our disruptive technology and validates our ambition to become a global leader in the detection and screening of a variety of cancers. Following the commercial launch of Bladder EpiChecktm, for the detection of bladder cancer recurrence, the financing will help us accelerate the development of our second diagnostic tool, Lung EpiChecktm, for the early detection of lung cancer, which is expected to begin extensive clinical trials in Europe and the US in the beginning of next year. "
About Lung Cancer
Lung cancer is the deadliest and most common of all cancer types. It is estimated that there are about 1.8 million new cases of lung cancer annually worldwide and about 1.55 million die from the disease each year. The reason for the high mortality rate is that currently most of the cases are detected when the patient becomes symptomatic, which is usually at a late stages of the disease. To date, there is no adequate screening process for the early detection of lung cancer, bringing survival rate to approximately 15%. In addition, there is a well-defined risk group for developing the disease ? mostly smokers and former smokers above the age of 50. Therefore, a screening test aimed at this risk group to assist in the early detection of the disease is highly needed and can dramatically increase lung cancer survival.
About Nucleix
Nucleix Ltd. develops, manufactures and markets innovative, non-invasive, molecular cancer diagnostic tests. Its highly sensitive and specific tests are based on identification of subtle changes in methylation patterns. Nucleix's technology is based on a combination of a new biochemical assay in conjunction with sophisticated algorithms. The Company's pipeline includes CE Mark Bladder EpiChecktm, for the non-invasive detection of bladder cancer based on a urine test; Lung EpiChecktm, a screening diagnostic blood test for early detection of lung cancer; Liver EpiChecktm, a blood test for liver cancer detection in patients with cirrhosis; and Pan Cancer EpiChecktm, a molecular diagnostic tool for early detection of multiple cancer types in blood samples, all based on Nucleix's proprietary and innovative epigenetic platforms. Investors in the Company include OrbiMed and other leading investors. Please visit www.nucleix.com
SOURCE Nucleix
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