14th April 2015

Glyconics Secures Investment In Medical Technologies Wales Launchpad Competition

Glyconics Secures Investment In Medical Technologies Wales Launchpad Competition

Award will be used to complete clinical validation and progress manufacturing

Glyconics Limited is pleased to announce that it has been awarded funding of £150,000 via the Medical Technologies Wales Launchpad competition run by the UK’s innovation agency, Innovate UK. The Wales Launchpad competition aims to provide vital funding and business support to SMEs based in the Wales cluster to enable them to bring new projects to market faster.

Glyconics is an innovative UK diagnostics company, spun-out from Swansea University in 2013, which is developing a novel technology for the diagnosis and clinical management of Chronic Obstructive Pulmonary Disease (COPD) using infrared spectroscopy at the point-of-care. Using this investment the company will complete clinical validation of the hand-held device for both diagnosis of COPD and for early identification of clinical exacerbations. In addition the investment will support the necessary early-stage manufacturing necessary to enable rapid commercial launch.

The award comes as part of the Welsh government’s ongoing initiative to support biotech and life science companies that has included the creation of a £200m fund to support companies.

Dr Berwyn Clarke, CEO of Glyconics, said: “This award is excellent news. We now have a portable device ready for full clinical validation in Wales and with this award we can complete this clinical data and start to build a full commercial infrastructure. Once this is completed we anticipate significant global commercial interest in the product that will allow job creation within Wales and further development of our product pipeline. Wales is rapidly becoming a significant hub of life sciences companies and support through initiatives such as Welsh Launchpad has been crucial in the rapid development of Glyconics.”

Glyconics technology uses Infrared Spectroscopy to analyse the composition of sputum in patients with suspected respiratory disease. Scientists at Swansea University led by Dr Paul Lewis identified proprietary biomarkers in sputum that can differentiate COPD patients from other diseases, and can also provide an early indication of exacerbation. Using the handheld device, samples can be analysed using proprietary software, at the point of care, producing a result in minutes.
Assuming successful clinical validation Glyconics expects to launch its first CE-marked product in 2016 initially targeting the UK and European markets.