BNS – The Estonian Development Fund has announced an investment into the company Selfdiagnostics, which aims to develop a new pathogen-specific medical diagnostic test for domestic use.
The size of the investment made together with co-investor Andres Kall is 300,000 euros.
Selfdiagnostics is a company established by Marko Lehes and Indrek Tulp.
Lehes said that right now their team in collaboration with an international group of researchers led by Professor Ulo Langel is focusing on developing a unique technological platform that will serve as basis for the development of express medical tests. The tests would be as easy to carry out as the pregnancy home tests available now, the Development Fund said.
Using home tests will make it possible to diagnose illnesses at an early stage, thus increasing possibilities for treatment and reducing treatment costs. The advantages compared with other similar products would be availability at pharmacies and multi-functionality, as a single test kit would enable to diagnose a number of illnesses. The commercial launch of the tests is planned for the period 2014-2015.
Selfdiagnostics has been included in the SeedBooster of the Estonian Development Fund.
Estonian Development Fund to invest in developer of infectious disease test kits