Flowsion, the Denmark-based developer of continuous blood glucose systems for intensive care medicine, announced they have won a prestigious European Commission Horizon 2020 SME Instrument award.
The company reports the grant was awarded to assist in the development of an innovative automatic blood glucose control system, Glucostat, developed by Flowsion. Glucostat is expected to reduce mortality, morbidity, length of stay and treatment costs dramatically for intensive care patients compared to existing technologies.
Hans Jorgen Pedersen, CEO of Flowsion on the award comments, “It’s a welcome validation of our innovative, patented technology and a confirmation that we are addressing a really significant problem with a globally-relevant market opportunity.” He added, “Flowsion has already performed clinical studies with the system so we now that Glucostat will fulfil the demands of the intensive care units.”
With 5-8 % success rate the European Innovation Council SME Instrument awards are exceptionally competitive, and only 3018 companies across Europe were awarded a grant until now.
“This kind of technology is really crucial for intensive care medicine, where patients’ lifes are threatened every day. Glucose control has proven to be very difficult to perform for the intensive care units in hospitals world wide, and now getting a system that automatically helps performing blood glucose control will increase survival rate and lower treatment costs at the same time” said Hans Jorgen Pedersen. “We’ve carefully studied several technologies and designed a solution that is really elegant and simple to use, but that also delivers an enormous value for patients, doctors, nurses and hospitals.”
The SME Instrument program is designed to assist internationally-oriented SMEs in implementing high-risk and high-potential innovation ideas. It aims at supporting projects with a European dimension that lead to major changes in how business is done.