Selective Antibodies Ltd
06 Jan 2012
Newcastle’s Selective Antibodies secure grant finance totalling €2M towards the development of their innovative platform immuno assay technology for use in point of need diagnostics.
CPI helped Newcastle’s Selective Antibodies secure grant finance totalling €2M towards the development of their innovative platform immuno assay technology for use in point of need diagnostics.
Selective Antibodies Ltd (SAL) aims to bring the clear advantages of speed, simplicity, convenience and precision of immunodiagnostic systems (as seen so clearly in the home pregnancy test) to the rapid, reliable detection of low molecular weight substances such as chemicals, drugs and explosives in order to access a brand new mass market for diagnostics. In order to continue to fund this, SAL requested assistance from CPI’s Enterprise Europe Network to secure grant finance.
With CPI’s help, a strong proposal was developed for a Framework Seven Programme (FP7) submission. CPI provided assistance in the shaping of the project and the formation of the budget, as well as the building and strengthening of the consortium, and the proposal’s final submission. The proposal received very positive feedback from the evaluators and Selective Antibodies were awarded €1.2m of the overall €3.2m FP7 grant to lead the project. CPI has also helped SAL to integrate into another EU FP7 consortium of 21 partners, who aim to develop nanotechnology based toolkits for cancer diagnostics and treatment monitoring. The project secured an overall budget of €21m, €680k of which was awarded to Selective Antibodies.
A further €100K was also secured in a GRD application for the development of novel dipsticks for detection of harmful mycotoxins in food and drinks.
CPI has helped SAL to secure approximately £2M of investment as a part of FP7 and GRD projects. Through these, they have built high-quality technology partnerships and formed a successful value chain in cutting edge diagnostics. This has enabled them to further develop their platform technology and allow them to present assays on a commercial basis throughout Europe. Further development of this technology will support the penetration of new diagnostic mass markets and offer SAL an opportunity to become world leaders in this segment. SAL has also been able to safeguard four jobs and hope to create new roles as the business develops.
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