Genovis has received SEK 1.4 million in research support

As was previously announced, Genovis is participating in two research projects that were granted external research support: the EU LUPAS project www.lupas-amyloid.eu and the Sentinel node project. The company has received SEK 1.4 million from the EU for the first initiatives in the LUPAS project. Thus Genovis has received SEK 2.4 million in compensation for the two projects to date this year. Genovis’ expenses related to the projects will not be charged against earnings for 2010, while revenue will be distributed over the year.

“The opportunity to apply an interdisciplinary approach with leading groups in medical imaging means a lot to Genovis. Proactive research is important for the company’s long-term development and of course it is gratifying when costs for high-priority projects can largely be financed with external funding. We are constantly evaluating potential new forms of cooperation in combination with external research support,” says Sara Fredrik, CEO of Genovis. Genovis is one of eight partners in the LUPAS consortium, which aims to develop new tools and technologies for the diagnosis and treatment of Alzheimer's disease and neurodegenerative diseases caused by prions, an infectious protein that causes illnesses such as mad cow disease in cattle and Creutzfeldt–Jakob disease in humans. The LUPAS project is financed with a total of SEK 50 million from the EU's seventh framework programme over the course of three years. Sentinel node is the working name of the development project that Genovis is conducting together with the Department of Medical Radiation Physics at Lund University. The project is interdisciplinary and the objective for Genovis is to develop a multimodal particle that can guide the surgeon and facilitate diagnosis prior to surgery by separating tumor cells from healthy cells in the “gatekeeping” gland. The project is supported by the Swedish Research Council and LMK Industri AB.