Experts, investors and prestigious grants accelerate revolution in cancer diagnostics
23/01/2025
23/01/2025
Slovak biotechnology company Glycanostics is making remarkable progress in developing revolutionary non-invasive tests for early cancer detection. With investment and support from Crowdberry investors, the company has expanded its team with top experts, secured prestigious grants, and moved closer to obtaining CE certification, which will enable entry into international markets.
What other key milestones has the company achieved and what lies ahead? We've summarized the key insights that highlight why investing in Glycanostics makes financial sense. The investment opportunity closes on February 8, so this is a last chance for investors to become involved.
Glycanostics' innovative solutions, based on patented glycan analysis technology, have received backing from major research and development grant programs.
A grant from the recovery and resilience Plan under the EIC Transition scheme is accelerating the development of non-invasive tests for breast, pancreatic and lung cancer, advancing them into clinical validation.
A grant from the Recovery and Resilience Plan for excellent researchers is supporting research into non-invasive tests for gastric and colorectal cancer. The company has progressed to the second round of selection for the prestigious EIC Accelerator grant, aimed at finalizing the development of the breast cancer test and obtaining CE certification.
With this support and strong expertise, Glycanostics has a greater chance of successfully bringing its diagnostic tests to market and significantly improving early cancer detection.
A strong patent strategy is crucial for Glycanostics, enhancing its position on both regional and global markets, opening doors to strategic partnerships and expansion into new territories.
The company already holds one patent, while four others are in their advanced stages of registration, ensuring exclusive use of the technology in key markets. Glycanostics is currently developing a sixth patent, focused on the configuration of a prostate cancer test, aiming to further increase diagnostic accuracy.
The company has expanded its senior management team with four highly experienced leaders, bringing valuable expertise in regulatory affairs, quality assurance, commercialization and finance – critical areas for scaling the company internationally.
A partnership with Firalis Group, a renowned French manufacturer in the pharmaceutical and biotech sector, enables real-world testing and optimization of Glycanostics’ diagnostic technologies, preparing them for mass production. The test, optimised in collaboration with Firalis on a small sample of blood sera, demonstrated even higher accuracy than the original laboratory prototype.
Firalis is now finalizing product design and procuring materials for the production of the first three pilot batches. The next steps include analytical and clinical validation, stability testing and submission of registration documentation for CE certification. This collaboration marks a major step toward making innovative and affordable diagnostics accessible on a large scale.
The preparation of the “dossier”, a comprehensive 500-page registration document required for CE certification of the Giasay® Prostate test, is progressing successfully.
The submission is expected in 2025, with the notified body already contracted to oversee the assessment. If everything goes according to plan, the CE certification will pave the way for market entry into Europe, bringing reliable and non-invasive prostate cancer diagnostics closer to patients.
Firalis’ founder and CEO, Hüseyin Firat, has expressed interest in expanding cooperation, supporting a joint grant application for a large-scale multicentre clinical performance study of the prostate cancer test. This partnership has the potential to accelerate international market entry and strengthen Glycanostics’ position among global leaders in cancer diagnostics.
Glycanostics has been selected among 72 high-growth companies across Europe to join the exclusive EIC Scaling Club, unlocking access to investors and global partnerships. This prestigious program provides networking opportunities and support for scaling in international markets.
At the same time, collaborations with Unilabs, Medirex and Synlab, three major diagnostic networks, are being launched to play a key role in the expansion of the tests across Europe and accelerate their availability to a wider range of patients.
Since the launch of the investment campaign, over 400 investors have expressed interest, with total investments approaching €2.2 million. Investors are drawn not only to the potential for financial returns, but also to the opportunity to support a groundbreaking and impactful project.
*Investment involves the risk of partial or total loss of invested funds. Your investment is not protected by a deposit guarantee scheme.
