RSP Systems (“RSP”), the non-invasive human diagnostics company, announces today that it’s been awarded a EUR2.4 million grant.
The grant is part of the European Union’s Horizon 2020 framework for research and innovation. The funds will be used to take GlucoBeam®, the world’s first accurate, non-invasive glucose monitor for diabetics, through to market launch. The technology is based on RSP’s proprietary and clinically validated technology, Critical Depth Raman Spectroscopy.
This EUR2.4 million grant follows swiftly in the heels of RSP’s Series A round in July of EUR4.6 million. This included leading business strategist Roland Berger together with existing investors.
Commercial product realization aided by Horizon 2020
GlucoBeam ® is successfully being developed using Raman spectroscopy for glucose measurement in living tissue. The spectroscopic technique is commonly used in chemistry to provide a fingerprint by which molecules can be identified. Previous efforts to develop diagnostics for interstitial glucose in the skin have been unsuccessful. This until RSP produced unequivocal evidence that selecting a specific skin depth, results can be correlated with blood glucose levels.
Today, RSP is integrating the technology into a non-invasive consumer glucose monitor. It can have an analytical quality on par with current standards for invasive continuous glucose monitoring technologies. This integration is an industry first, and will provide a truly non-invasive glucose monitor for diabetic patients.
“Compliance is the biggest issue in glucose monitoring, and this vital grant helps to overcome that. For users to finally be able to measure glucose levels using the non-invasive GlucoBeam® will be a real breath of fresh air” Said Dr Anders Weber, CEO of RSP Systems A/S. “With the completion of a commercial product aided by Horizon 2020, we can now identify the path to the best partners to make GlucoBeam® broadly available to users in the European and later global markets.”
Stefan Ovesen Banke, founder and CTO of RSP Systems A/S, noted:
Being awarded this grant, is our reward for consistently focusing on the challenges of applying Raman Spectroscopy for the quantitation of analytes in living tissue. The last leg of the journey is to productize our GlucoBeam®prototype for market introduction as soon as possible. The Horizon grant is a noteworthy facilitator to achieve our goals. Due to the strict selection process we have undergone, it is also a strong endorsement of our company and technology.