RUBYnanomed granted 2 million € in funding to implement the BRIGHT PT2020 project

At RUBYnanomed we have been working hard these weeks to implement the BRIGHT PT2020 project.

Yes! ANI - Agência Nacional de Inovação through FEDER and NORTE2020 funding is supporting with 2 million € the development of our "Best-in-class rapid companion diagnostics chip for cancer stratification".

We are excited to share the news with all of you, as this is a very important step towards reaching our milestiones in product development, regulation, clinical trials and company growth

funding #innovation #medicaldevices #companiondiagnostics #liquidbiopsy #development #inovação

Title: BRIGHT .: Best-in-class RapId companion diaGnostics cHip for cancer stratification

Project Description Metastasis is the responsible of 90% of cancer related deaths, caused by the migration of the so called circulating tumour cells (CTCs) via bloodstream, to other parts of the body.

RUBYnanomed has developed the RUBYchip, the first In Vitro Diagnostics (IVD) device that allows continuous monitoring of the metastasis evolution, allowing the fast-therapeutic efficiency evaluation and adjustment to the patient needs. The RUBYchip isolates and identifies CTCs with a remarkable efficiency of >70 %, way superior to any of the competing technologies, in less than 3 h.

With this project it is expected to develop the entire automation of a single processing and reading unit, ensuring the repeatability of the results, minimising inter-user and inter-laboratory variability and ultimately offering an all-in-one solution as-a-service to hospitals and laboratories at low cost. In the evolving worldwide scenario towards personalised medicine (3.18 trillion, 2025), the innovative RUBYchip is positioned to enter the market of IVD by 2023 and fill the gap of liquid biopsy for companion diagnostics (CDx; 7.64 bn by 2025) from 2025 onwards.

Start Date: 2021-07-01 End Date: 2023-06-30

Type: PROJETOS DEMONSTRADORES INDIVIDUAIS - Selos de Excelência

Contract Number: NORTE-01-0247-FEDER-072328

Funding Agency: NORTE2020

Project Total Budget: € 1 909 144,71

Project Total Eligible Budget: € 1 904 978,04

FEDER Funding: € 1 193 347,72