Project description
Machine learning-based platform for the management of diabetes
Diabetes is growing globally, with a forecast for 642 million affected people in 2040. Proper management of this chronic disease can prevent complications and improve patients’ quality of life. The Icelandic company Medilync is developing innovative software that employs machine learning to efficiently use data generated for diabetic patients and obtain the information that helps improve glycaemic control. The created knowledge will be shared in the patient-centred care circle that includes doctors and other healthcare professionals. The company developed machine learning models that will be trained and validated with real data from patients. The EU-funded INSULYNC project will finalise and validate the platform with key stakeholders and prepare a business strategy for the European market.
Objective
Medilync is a start-up based in Iceland and founded in 2012 with the goal of revolutionizing the management and treatment of diabetes. Medilync has created a medical device that simplifies the way patients manage glucose measurement and insulin delivery. Diabetes requires a highly-disciplined routine of glucose control and insulin injections, being lack of accuracy and of recordkeeping one of the main reasons for a deteriorating health. There are about 60 million people with diabetes in the EU and this number will rise to 71 million by 2040. Up to 75% of all people with diabetes are not in good control of their condition, leading to huge social and economic costs. 40% of diabetes patients are >65 years, and need to involve family members, friends and providers in real-time to improve adherence to treatment. Medilync brings the first all-in-one medical device, INSULYNC, which allows for easy blood glucose measuring, recording of the injection of insulin, and real-time delivery of all this information for storage on a cloud computing system, Cloudlync, sharing it with the doctor and the patient’s family. INSULYNC and Cloudlync are highly integrated to help the patient keep track of medication and to organize all data relative to diabetes management under one single system. The solution helps patients to engage with family and doctors (improves treatment adherence by 35%), with the result of patients spending less (could save around €40 billion a year to European healthcare systems) and being in better health. The overall objectives of this project include finalizing and validating INSULYNC and Cloudlync with key stakeholders (e.g. clinical trials in key target markets), and preparing our entry strategy into the European market. Through this project we aim to boost the growth of our company and obtain €14.17M revenues (overall profit of 55%), while creating 30 new jobs by 2025, with a ROI of €4.9 per euro invested.
Fields of science
- medical and health scienceshealth scienceshealth care serviceseHealth
- natural sciencescomputer and information sciencessoftware
- medical and health sciencesbasic medicinepharmacology and pharmacypharmaceutical drugs
- medical and health sciencesclinical medicineendocrinologydiabetes
- natural sciencescomputer and information sciencesartificial intelligencemachine learning
Programme(s)
Funding Scheme
SME-1 - SME instrument phase 1Coordinator
900 VESTMANNAEYJAR
Iceland
The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.