RSP Systems, a Denmark-based non-invasive human diagnostics specialist company, has been awarded a €2.4m grant as part of the Horizon 2020 framework for research and innovation.
The funds will be used to take the company’s GlucoBeam® glucose monitor for diabetic patients through to market launch. The technology is based on RSP’s proprietary and clinically validated technology, Critical Depth Raman Spectroscopy.
This €2.4m of funding followed RSP’s Series A round in July of €4.6m that included leading business strategist Roland Berger together with existing investors.
Dr Anders Weber, CEO of RSP Systems, said: “This vital grant will help to overcome the biggest issue in glucose monitoring: compliance. For patients to finally be able to measure their glucose levels using the non-invasive GlucoBeam will be a real breath of fresh air.
“With the completion of a commercial product aided by Horizon 2020, we can now identify the best path to the best partners to make GlucoBeam broadly available to patients in the European and later global markets.”
Stefan Ovesen Banke, founder and CTO of RSP Systems, added: “This grant is our reward for consistently focusing on the fundamental challenges of applying Raman Spectroscopy for the quantitation of analyses in living tissue.
“The last leg of the journey is to productise our GlucoBeam prototype for market introduction as soon as possible. The Horizon 2020 grant is both a great facilitator to achieve our goals and due to the strict selection process we have undergone, a strong endorsement of our company and technology.”