The European Commission (EC) has provided a €3m fund for MeMed to advance its ImmunoDx project.
The three-year award has been granted through Horizon 2020’s small and medium-sized enterprise (SME) instrument, which targets potential SMEs with groundbreaking products that can impact the EU economy and global healthcare.
Under the project, the fund will be used to advance the development of a point-of-care test (POCT), which will differentiate bacterial or viral infection.
MeMed CEO Dr Eran Eden said: "We are excited by this unique vote of confidence from the European Commission.
"This funding will accelerate our development efforts and enable us to help a wider range of patients sooner."
The company will use the funding to support development of its second-generation product, which enables rapid measurements of a patient’s immune response to infection at the point-of-care.
It will also use the funds for a multi-center prospective clinical study that focuses on using the technology to help accurately diagnose patients with lower respiratory tract infections (LRTIs).
The trial will enroll around 1000 patients and will be conducted in collaboration with leading research centers at the Royal Free London NHS Foundation Trust (UK), Hannover Medical School (Germany), and Rambam Health Care Campus (Israel).
MeMed produces ImmunoXpert that effectively detects, if a patient has bacterial or viral infection. It received CE mark approval for clinical use in the EU, Switzerland and Israel.