Pocared Diagnostics, an Israeli rapid infectious diseases diagnostics leader, secures a EUR 22 million EIB backing
PR96005
Pocared Diagnostics, an Israeli rapid infectious diseases diagnostics leader, secures a EUR 22 million EIB backing for completion of the development and commercialization of its rapid testing system
REHOVOT, Israel, May 12, 2022 /PRNewswire=KYODO JBN/ --
- First EIB support for medtech investment in Israel
- Financing to accelerate development of rapid testing system to improve
infectious disease diagnosis and antibiotics stewardship
- Automated phenotypic testing, revolutionizing infectious diseases diagnostics
from sample to answer
Research and development of fully automated testing of bacteria and infectious
diseases by POCARED Diagnostics will be accelerated by EUR 22 million of
European Investment Bank specialized venture debt formally announced earlier
today.
POCARED Diagnostics is currently finalizing development of a new microbiology
testing system that has the potential to revolutionize infectious disease
diagnosis by providing complete results, including sample screening, organism
identification and antimicrobial susceptibility within hours instead of days.
"We are honoured to be selected by the European Investment Bank as the first
Israeli medtech company to be supported by the Infectious Disease Financing
Facility. The investment will allow POCARED to significantly accelerate
development of our diagnostic system and complete the preparations for its
clinical trials. POCARED's system will provide real-time results to clinicians,
enabling them to optimize treatment of infections and save unnecessary patient
suffering while reducing total healthcare costs. For the first time, clinicians
will have all the information required to prescribe the most effective
antibiotic treatment. This will be a key cornerstone of antibiotic stewardship
serving as the main tool for fighting Antimicrobial Resistance (AMR)," says
Jonathan Gurfinkel, President and CEO of the company.
"The European Investment Bank is committed to accelerating development of
research that strengthens the fight against infectious diseases and reducing
the threat of AMR to patients with underlying medical conditions. We are
pleased to provide EUR 22 million of new venture debt financing to enhance
POCARED's development of rapid microbiology diagnostics solution. Israel is
home to world class research and development, and we are pleased to provide the
first EIB financing for an Israeli medtech company and build on our strong
engagement supporting biotech investment in this country," said Gelsomina
Vigliotti, Vice President of the European Investment Bank.
Rapid testing is key for improving patient treatment and fighting Antimicrobial
Resistance
The new POCARED test will enable, for the first time, an optimal, evidence
based, patient treatment and transform the fight against Antimicrobial
Resistance.
Building on EIB track record supporting innovation
The venture debt program of the EIB was established to fill the persistent
market gap and increase support for growth stage companies promoting disruptive
innovation.
Since 2015, the EIB has deployed more than EUR 3.0bn in venture debt and
quasi-equity operations, supporting more than 150 highly innovative companies.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the
European Union owned by its Member States. It makes long-term finance available
for sound investment in order to contribute towards EU policy goals.
POCARED Diagnostics Ltd, is an in-vitro diagnostic and pre-analytics company
utilizing cutting edge technologies to deliver next generation platforms.
POCARED's CULTURE-FREE Microbiology® technology is revolutionizing infectious
disease diagnosis and practice with real-time automated results. This saves
several critical days in reporting compared to current practices.
Logo - https://mma.prnewswire.com/media/1816720/POCARED_Diagnostics_Logo.jpg
Logo -
https://mma.prnewswire.com/media/1816721/European_Investment_Bank_Logo.jpg
Press contact:
POCARED Diagnostics Ltd:
Arie Rand
arie.rand@pocared.com
+972 54-433-0108
Joint source: POCARED Diagnostics & European Investment Bank
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。