Objective
"Drug failure and high development cost (est. €2.3bn/new drug) has driven enormous growth in market need for scientific tests and models of disease, for researchers in academia, institutions and the pharmaceutical industry, that better translate from the bench (in vitro) to the bedside (in vivo). Critical tests are either not available, or only available on a few large, expensive dedicated instruments.
Luxcel Biosciences Ltd (LUX) has prototyped innovation that can now bring these high performance tests, to all laboratory scientists, for use on standard laboratory instrumentation already available in est. 20,000 labs (fluorescence plate reader), without requirement for CapEx.
LUX’s business innovation solution is a platform of low cost, flexible, easy to use and accessible in vitro cell metabolism and toxicity test kits and consumable products (MitoXpress UHS® and dOxycheck™) made possible through innovative synergy of LUX’s fluorescence nanosensor technology, together with advanced polymer microfabrication and electronic engineering.
MetaTox-HS project, completes the final stages of development, verification, pilot process and manufacturing readiness, together with dissemination and exploitation activities, to bring the full product solution to market and secures EU based revenue and job creation; 13 new jobs and €14.5m cum turnover by 2023, consolidating LUXCEL’s EU position (2 YR), and ambition to become a serious #2 challenger in this est. €320m accessible US and global market (5 YR), currently dominated by US businesses.
Proposal previously submitted Oct ’16, scoring highly, passing all three criteria. Following a full commercial review LUXCEL has taken a sole beneficiary role, with key enabling technology provided through 3rd party sub-contract. A full re-write highlights: clear product components, demonstrated proof-of-concept, well-defined market opportunity and strong commercial plan to boost growth.
"
Fields of science
Keywords
Programme(s)
- H2020-EU.2.1.2. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies – Nanotechnologies Main Programme
- H2020-EU.2.1.5. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Advanced manufacturing and processing
- H2020-EU.2.1.3. - INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Advanced materials
- H2020-EU.2.3.1. - Mainstreaming SME support, especially through a dedicated instrument
Funding Scheme
SME-2 - SME instrument phase 2Coordinator
T12 Cork
Ireland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.