VibroSense Dynamics receives 50 000 Euro in grant from EUs research program Horizon 2020
The European Commission framework Horizon 2020, has granted 50 000 euros to VibroSense Dynamics. The Commission concludes that the methods used today to find neuropathy in the feet has major shortcomings. Moreover, they conclude that there is an urgent need to detect sensory changes in diabetic feet earlier than today. The grant, which is a so-called Phase 1 grants will be used to develop a strategic business plan for the foot device under development, aiming at early assessment of Distal Sensory Neuropathy in feet.
Horizon 2020 emphasizes that an estimated 1/9 of total healthcare costs in Europe goes to diabetes care and a majority of these costs may be attributed to problems with the feet. It’s also noted that VibroSense method and product may be well positioned for a significant challenge facing the European Union, i.e. to provide a diagnostic method that finds neuropathy in diabetic feet in early stages. Horizon 2020 states that VibroSense product can contribute to a more cost-effective and individualized care of the diabetic foot.
- Following the Commission's comprehensive review, we received yet another confirmation that our product and method is unique and can contribute positively by finding impaired sensitivity at early stages. The money will be used to analyse the market and develop a strategic business plan, says Toni Speidel, CEO VibroSense Dynamics.
A "Phase 1 grant" is intended for a feasibility assessment that is supposed to be the basis for a subsequent "Phase 2" funding up to EUR 5 million. The company plans to also submit such an application after completion of the Phase 1 survey, which is expected to be completed within 6 months.
European Commission's decision and justification can be read here: Horizon_Phase1
About foot ulcers and the VibroSense Meter system
All people with diabetes, both type I and II, have increased risk of getting foot ulcers, which in the worst case lead to amputation of all or part of the foot. This complication is often unnecessary according to medical experts, provided that impaired sensitivity is detected early. For early detection, preventive measures can be initiated, which can prevent a great deal of suffering and reduce the costs significantly. In 2014 the health care costs related to diabetes was estimated to at least 612 billion dollars worldwide.
VibroSense Dynamic’s device, the VibroSense Meter, can detect loss of sensitivity in hands at a very early stage. Pilot studies on feet have shown very promising results, so good that the company will develop a new device for examination of feet utilizing Multi Frequency Vibrometry. The objective is that the development shall be completed latest at the second half of 2017.
The company's technology Multi Frequency Vibrometry is far superior to other clinical methods, since:
- The Sensitivity is examined within a wide frequency range which provides a complete picture of the hands tactile sensation.
- The system has an inbuilt age compensation which is crucial since the sensitivity decrease with age.
- An integrated medical patient record system provides an automatic monitoring of sensory changes in time, both on individual and group level.
- The result is operator independent, i.e. the person leading the examination does not affect the result.
- More than 30 years of clinical research with an extensive list of publications provide a solid medical evidence for Multi Frequency Vibrometry superiority compared to other tactile examination methods.
No other methods on the market are in the vicinity of the above.
Toni Speidel, CEO VibroSense Dynamics AB, 070-893 21:07, email@example.com.
About VibroSense Dynamics AB (publ)
VibroSense Dynamics AB (publ) develops and markets medical devices and services for diagnostics of nerve damage in hands and feet to Diabetes clinics, Occupational health care, Hospitals, Clinics and Scientists. The company was founded in 2005 and has its headquarters in Malmö, Sweden.