EU Grant to Progress Monitor for Diabetes

RSP Systems, specialising in non-invasive human diagnostics has been awarded a EUR2.4 million grant as part of the European Union's Horizon 2020 framework for research and innovation. The funds will be used to take the company’s GlucoBeam(R), non-invasive glucose monitor for diabetic patients, through to market launch. The technology is based on RSP's proprietary and clinically validated technology, Critical Depth Raman Spectroscopy.

This EUR2.4 million of funding followed swiftly on the heels of RSP's Series A round in July of EUR4.6 million that included leading business strategist Roland Berger together with existing investors.

"This vital grant will help to overcome the biggest issue in glucose monitoring: compliance. For patients to finally be able to measure their glucose levels using the non-invasive GlucoBeam(R) will be a real breath of fresh air," said Dr Anders Weber, CEO of RSP Systems A/S. "With the completion of a commercial product aided by Horizon 2020, we can now identify the best path to the best partners to make GlucoBeam(R) broadly available to patients in the European and later global markets."

Stefan Ovesen Banke, founder and CTO of RSP Systems A/S, noted: "This grant is our reward for consistently focusing on the fundamental challenges of applying Raman Spectroscopy for the quantitation of analytes in living tissue. The last leg of the journey is to productise our GlucoBeam(R) prototype for market introduction as soon as possible. The Horizon grant is both a great facilitator to achieve our goals and due to the strict selection process we have undergone, a strong endorsement of our company and technology."