July 30, 2018 | Israeli cancer detection company Nucleix has raised almost $3 million in funding from the European Commission’s Horizon 2020 program as part of European Innovation Council (EIC) pilot for Small and Medium-sized Enterprises (SMEs).
Nucleix received the funding for its Lung EpiCheck, a screening diagnostic blood test for early detection of lung cancer, the company said in a statement. The technology is based on identification and analysis of subtle changes in DNA methylation patterns, a powerful tool for distinguishing between cancer and healthy cells and thus for detection of tumors in the body, Nucleix says.
Nucleaix CEO Dr. Opher Shapira said in a statement: “We are extremely proud to have been found worthy of the Horizon 2020 EIC pilot SME Instrument Phase 2 funding, especially since the competition was intense. This recognition confirms the potential of our disruptive technology and validates our ambition to become a global leader in the detection and screening of a variety of cancers.”
“Following the commercial launch of Bladder EpiCheck, for the detection of bladder cancer recurrence, the financing will help us accelerate the development of our second diagnostic tool, Lung EpiCheckTM, for the early detection of lung cancer, which is expected to begin extensive clinical trials in Europe and the US in the beginning of next year,” he added.
Nucleix was founded in 2008 by Elon Ganor, a former CEO of voice-over-IP pioneer VocalTec, Dr. Danny Frumkin, VP Biochemistry, and Dr. Danny Wasserstrom, VP Bioinformatics.