SpectraCure receives prestigious grant from the Eurostars program
SpectraCure has been awarded an R&D grant of approximately SEK 5 million through the EU Eurostars program, to develop an advanced image management system to be used together with the company's IDOSE technology. The development project will be carried out together with the German company MedCom GmbH, which will also receive a grant. SpectraCure has previously collaborated with MedCom, a collaboration which now is strengthened through the successful application.
SpectraCure's treatment method is based on optical fibers, placed with high accuracy at predetermined positions in the prostate, that guide laser light to the cancer tumor. The precision in positioning is a prerequisite for SpectraCure's IDOSE system to deliver the correct dose to the tumor without damaging surrounding healthy tissues. The positioning of the optical fiber needles is assisted by means of ultrasound imaging.
MedCom, based in Darmstadt, is a world leader in image-based navigation of minimally invasive interventions for diagnostics and therapy. The company is a supplier of technical solutions to several major medical technology companies such as Hitachi Medical Systems and Elekta. MedCom uses a more modern image processing and navigation control system than the technology SpectraCure uses today. With the greater precision that MedCom’s image processing has the ability to deliver, the time for patient treatment could be significantly reduced, giving major benefits both to create acceptance for SpectraCure's treatment method and to reduce health care costs.
"The Eurostars grant is a quality label for SpectraCure, both from a technical, medical and commercial point of view," says SpectraCure's CTO Johannes Swartling. “Our application ranked 12 out of over 300 qualified applications.”
The Eurostars program is administered at EU level by the European innovation network Eureka, and the contribution is financed in Sweden through Vinnova. The German partner MedCom’s part of the project is financed through the German government. In total, the project contribution amounts to approximately 770,000 euros, of which approximately 475,000 go to SpectraCure and 295,000 to MedCom. The purpose of the Eurostars program is to support innovative research and development with high commercial potential in small and medium-sized enterprises. Applications to Eurostars are reviewed by expert groups in the EU that assess the quality of projects on the basis of several criteria such as scientific merit, feasibility, applicants' skills and commercial potential.
For further information, please contact:
SpectraCure AB publ, CEO, Masoud Khayyami, phone: +46 (0) 70 815 21 90
Certified Adviser is G&W Fondkommission, phone: +46(0) 8 503 000 50
This information is information that SpectraCure AB is required to disclose under the EU Market Abuse Regulation. The information was provided, through the contact of the above contact person, for publication on December 21st, 2018.
SpectraCure in short
SpectraCure was founded in 2003 as a spin off from Lund University departments for medical laser applications and physics. The company focuses on cancer treatments using medical systems with laser light sources and reactive drugs, which is referred to as "Interstitial Photodynamic Therapy", PDT, a treatment methodology suitable for internal solid tumours of various kind, e.g. prostate and abdominal salivary glands, but also other indications such as cancer tumours in the head and neck region