Cambridge Raman Imaging wins European Union grant
REACH
AIM: FIPP
10 February 2022
Frontier IP Group plc
("Frontier IP" or the "Group")
Portfolio news - Cambridge Raman Imaging wins European Union grant to transform cancer diagnosis and treatment
Frontier IP, a specialist in commercialising intellectual property, today announces that a project coordinated by portfolio company Cambridge Raman Imaging ("CRI" or the "Company") has been selected to receive a €3.3 million grant in the European Innovation Council's ("EIC")Transition call.
The project, called CHARM, aims to develop a medical device based on high-speed, low-cost Raman digital imaging technology and artificial intelligence to transform cancer diagnosis and treatment. The technology will analyse the molecular composition of patient tissue samples to distinguish cancerous from healthy cells without the need for chemical staining.
CHARM is a pan-European collaboration between CRI, the University of Cambridge, Italian institutions Politecnico Di Milano and Consiglio Nazionale Delle Ricerche, the Jena University Hospital in Germany, and project management firm IN s.r.l. CRI is to receive €1.3 million of the grant, which is being made to its wholly-owned Italian subsidiary Cambridge Raman Imaging s.r.l.
The project coordinator is Dr Matteo Negro, CRI's Chief Technology Officer. CHARM is one of 42 projects selected for funding from 292 submitted in the first ever EIC Transition awards, intended to support moving technologies from laboratories into the real world. It aims to develop the device to the preclinical validation phase.
Frontier IP holds a 25.8 per cent equity stake in CRI.
CRI's Raman imaging technology uses graphene-based ultra-fast fibre lasers to generate digital images of patient tissue for automatic analysis by artificial intelligence to support diagnosis. Because the images are digital, they can be viewed remotely, allowing histopathologists to work more efficiently and to support regions and countries short of qualified staff. The technology also potentially opens the way for personalised treatments for cancer.
The Company's technology is also part of CRIMSON, another pan-European project developing technology to monitor diseases unfolding in cells in real time. This has the potential to deepen understanding of the cellular origins of the disease and to enable the development of new treatments. CRI has also entered into a collaboration with Motic, a manufacturer of medical imaging devices.
The EIC is Europe's flagship innovation programme to identify, develop and scale up breakthrough technologies and game changing innovations.
Dr Matteo Negro, Cambridge Raman Imaging's Chief Technology Officer and CHARM project coordinator, said: "We are proud to see our technology recognised by the EU as a potentially disruptive innovation, able to strongly support histopathologists in their clinical routine, by providing objective chemical information on tissues to improve cancer diagnosis accuracy and personalised treatment selection.
"CRI has a mission to bring coherent Raman histopathology to the clinical market and the EIC Transition grant will be boosting our activities towards a successful commercialisation of our innovation."
Neil Crabb, Chief Executive Officer of Frontier IP Group, said: "Cambridge Raman Imaging's novel technology has the potential to revolutionise cancer diagnosis and treatment, not least by making it more widely available through histopathologists working remotely. The EIC grant provides further strong validation of the approach being taken by the Company."
ENQUIRIES
|
Frontier IP Group Plc |
T: 020 7332 2338 |
|
Neil Crabb, Chief Executive Andrew Johnson, Communications and investor relations andrew.johnson@frontierip.co.uk Company website: www.frontierip.co.uk |
M: 07464 546 025 |
|
Allenby Capital Limited (Nominated Adviser) |
T: 0203 328 5656 |
|
Nick Athanas / George Payne
|
|
ABOUT FRONTIER IP
Frontier IP unites science, finance and industry by identifying strong intellectual property and accelerating its development through a range of commercialisation services. A critical part of the Group's work is involving relevant industry partners at an early stage of development to ensure technology meets real world demands and needs.
The Group looks to build and grow a portfolio of equity stakes and licence income by taking an active involvement in spin-out companies, including support for fund raising and collaboration with relevant industry partners at an early stage of development.
About Reach announcements
This is a RNS Reach announcement. Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases into the public domain. Information required to be notified under the AIM Rules for Companies, Market Abuse Regulation or other regulation would be disseminated as an RNS regulatory announcement and not on Reach.
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 8 hours ago Johnson Matthey
- 9 hours ago Galliford Try
- 9 hours ago Galliford Try
- 9 hours ago Centrica
- 10 hours ago Smith & Nephew