IRISH company Remedy Biologics Limited is among the leading innovative business in Europe working to tackle the coronavirus pandemic and its societal impacts.
Its project RapCo-19 has developed an antibody platform to help identify the optimal antibodies to treat severe cases of the disease.
In the past year, the European Commission has invested €226 million through the European Innovation Council pilot and the European Institute of Innovation and Technology to support innovative start-ups and small and medium-sized businesses.
Many projects have already generated promising results, said Mariya Gabriel, Commissioner for Innovation, Research, Culture, Education, and Youth at a virtual media event today.
ViruShield, from Germany, has developed a reusable, self-cleaning personal protective equipment that removes 95% of particles and droplets. Advitos, also from Germany, developed a blood purification therapy that reduces the need for ventilator support and increases the survival rate of patients with a severe infection by up to 30%.
The Danish company BluSense Diagnostics developed a nanotechnology-based blood test platform for the diagnosis of infectious diseases that works with a single drop of blood within minutes.
Other Danish entrepreneurs developed a new respiratory suctioning system that can cut healthcare costs.
An AI-based virtual management centre for hospitalised Covid-19 patients has demonstrated a 50% reduction in mortality rate. And a start-up from Hungary, Entremo, which was among the winners of the #EUvsVirus Hackathon, has developed a smart monitoring device that allows to monitor patients remotely.
Commissioner Gabriel said: “The coronavirus pandemic has created unprecedented challenges that require innovative ideas.
"The rapid investments to innovative start-ups and projects through the European Innovation Council and the European Institute of Innovation and Technology have unlocked a range of breakthrough ideas to tackle the crisis and to speed up European and global recovery.”
The support is part of the Commission's €1.4 billion pledge to the Coronavirus Global Response, launched last year by President Ursula von der Leyen. €1 billion comes from Horizon 2020 to develop vaccines, new treatments, and diagnostic tools.
These efforts also build on past and ongoing EU-funded research related to coronaviruses and outbreaks.