Oxford-based Perspectum Diagnostics Ltd will receive around £2.6m of EU funding to develop a rapid assessment of chronic liver disease using magnetic resonance imaging (MRI).
Liver disease already affects over 10% of the UK population. A fundamental challenge is that liver disease generally does not cause symptoms until tissue damage is severe and irreversible: for this reason it has been called ‘the silent killer’.
The funding comes from the Commission’s Horizon 2020 SME Instrument and will help bring the product from pilot-phase to the market.
Commenting on the announcement, Conservative MEP for South-East England, Richard Ashworth said ‘this is an excellent example of how the EU can support innovative SMEs in the UK to develop technologies that will ultimately save lives.’
‘SMEs are the life-line of our economy and it is so important that we continue to provide stable sources of investment to enable them to grow successfully. SMEs provide 60% of all private sector employment in the UK and are vital to our long-term economic plan.
‘The EU SME Instrument enhances research and development, which, in turn, benefits the British people. Clearly, membership of the EU is good for the science and research that improves people’s lives.’