Innovosens awarded with European Commission's Seal of Excellence
Recognises Innovosen's innovative solution as a first-class idea worthy of investment
Malmo, Sweden - 18 May 2020 - Innovosens AB, the innovative developer of a next generation wearable monitoring device for diabetics, is proud to be awarded the European Commission's Seal of Excellence as a result of the company's submission for funding from the EU Budget Horizon 2020 programme.
The European Commission awarded Innovosens with its Seal of Excellence after passing stringent assessment thresholds for the three award criteria (excellence, impact, quality and efficiency of implementation) required to receive funding from the EU budget Horizon 2020. The award was made following a careful evaluation by an international panel of independent experts who assessed Innovosen's project proposal "SMASH: Non-invasive, continuous monitoring of multiple parameters for comprehensive analysis of diabetes". The proposal was scored as a high-quality project proposal in a highly competitive evaluation process and recommended for funding.
The Seal of Excellence is a quality label awarded to project proposals submitted to Horizon 2020. It recognizes the value of the proposal and helps other funding bodies take advantage of the Horizon 2020 evaluation process. It shows political commitment by displaying the signatures of the Commissioners. It is unique and safe. It is digitally sealed against fraud, as is the project proposal and evaluation summary report.
"For the team at Innovosens it is an honour to have our efforts recognised. To achieve this award from an international panel of independent experts in a highly competitive evaluation process makes us even more determined to push forward with our SMASH innovation and bring a solution to the many people suffering from diabetes in the world," says Sirisha Adimatyam, CEO & Founder of Innovosens.
View the certificate here .
For further information please contact:
Innovosens AB, Malmo, Sweden
CEO & Founder
About Innovosens AB
Innovosens envisions better a world where health care professionals and patients can easily sense and access health data more easily with wearable biosensors and connected health IOT platforms.
The company aspires to be a pioneer in development of integrated end-to-end solution of flexible and ultrasensitive biosensing platforms for rapid detection of different human metabolites primarily for health care while connecting the bio sensors with cloud and big data to ensure better quality of life for patients.
Innovosen's first product, SMASH (Sweat Metabolite Analysis for Sports & Health) is a non-invasive, continuous monitoring, multiparametric sweat sensor, capable of sensing glucose, lactate and other electrolytes. SMASH is reinforced by a proprietary algorithm to study multiple parameters in different permutations and combinations understand the pathophysiology of a patient and to make meaningful conclusions and recommendations. SMASH, which targets for type 1, type 2, gestational and prediabetes, sufferers, will help diabetic patients and care givers understand the multi-parameters that contribute to high or low levels of glucose while making meaningful collective analysis of multiple parameters and help predict early signs of hyper- and hypo- glycemia. The team behind Innovosens brings together a unique combination of scientists and software engineers.
Innovosens has identified an immense market opportunity for glucose sensing devices or bio sensors, its initial target market. Innovosens has been working on the development its sensing product for several years, and now has validated prototypes, ahead of many competitior's similar products. The technology is proprietary to Innovosens, and has been developed in conjunction with the University of California San Diego (UCSD). The company has been funded to date through angel investors and grant funding from the EU 2020 programme and has been the winner of a number of venture funding competitions in Sweden.
For further information, visit the company's website at http://www.innovosens.com.
About the EU Seal of Excellence
The EU Seal of Excellence is a quality label awarded to project proposals submitted to Horizon 2020, the EU's research and innovation funding programme, to help these proposals find alternative funding. Projects which were judged to deserve funding but did not get it due to budget limits receive the Seal of Excellence. It recognises the value of the proposal and helps other funding bodies take advantage of the Horizon 2020 evaluation process.
For more information about the EU Commission Seal of Excellence, visit the EU's website at https://ec.europa.eu/info/research-and-innovation/funding/funding-opportunities/seal-excellence_en
COVID 19 Partnership
Sensor technology developed for the treatment of diabetes may help in the early detection of COVID-19 infections
Innovosens building partnerships to accelerate development, testing and market launch
Malmo, Sweden - 4 May 2020 - Innovosens AB, the innovative developer of a next generation wearable monitoring device for diabetics, is working on preliminary investigations which indicate that its proprietary technology could be applied in the fight against the COVID-19 virus and other viral infections.
Today’s announcement that Innovosens’ SMASH product might help in identifying viral infections demonstrates our adaptability and broad scope of our product. We are seeking a partner to help us accelerate development and funding of our prototype wearable sensor and help those such as health professionals who need immediate and accurate - but non-invasive - measurement of vital signs such as temperature, blood oxygen, lactate and heart rate. Working with Dr Bruce Johnson of the Mayo Clinic is evidence we are serious about this application.
This is no way means we are deserting our primary target audience, diabetics. Our aim is to accelerate testing of the SMASH sensor so we can move our diabetic facing product into clinical trials as soon as possible. And our sports and fitness product will run alongside as we can launch this with or without a distribution partner - and no clinical trials.
Reach out to us if you are interested in partnering with one of the most exciting wearable tech companies in this space, or wish to learn more.
Den 16 januari var det premiär för BioStock Live på dansk mark. I samarbete med Nasdaq samt Bayer Pharmaceuticals, ett av världens 20 största läkemedelsbolag, bjöd BioStock in totalt 8 privatägda startups och noterade bolag från Danmark och Sverige som fick presentera sig för svenska och danska investerare samt Bayers representanter, som imponerades av såväl bredd som innovationshöjd hos de deltagande bolagen. Se presentationerna i efterhand här.
INNOVOSENS RECEIVES FUNDING FROM HORIZON 2020
Innovosens Received a grant of 500,000 SEK from SME Phase - 1 Instrument, within Horizon 2020, EU Commission Framework. SME Phase 1 instrument is highly competitive with only 7% percent chances of success.
Horizon 2020 phase 1 grant is proof positive that Innovosens’s Technology is an impact maker, with in the fields of wearable tech/health tech and fitness tech. Innovosens is very proud to receive this grant despite cut throat competition, achieving this milestone helps us stay grounded and motivates us to progress further achieving the next milestones with ease says CEO & Founder, Sirisha Adimatyam.
Horizon 2020 is the EU's largest research and innovation program with nearly 80 billion euros in funding, available for 7 years (2014-2020). The program emphasizes high-quality science, industrial management and meeting social challenges. The goal is to ensure that Europe produces world-class science, removes barriers to innovation and facilitates the public and private sector to work together for innovation.
Innovosens is one of the Winner of Venture CUP, South Sweden, 2019. Innovosens will be participating for Finals with the Start ups all across Sweden for wining Sweden’s best start up of the Year 2019.
Venture Cup have supported tens of thousands of entrepreneurs and helped nearly 15 000 ideas to blossom since the start in 1998. Venture Cup are Sweden's no. 1 competition and the competition where ideas become businesses. Venture Cup arranges two competitions yearly. The spring is all about startups in an early phase, and during the fall the competition is all about ideas. The two different tracks enable us to support first-time entrepreneurs as well as more mature ones, which we are very happy about.
Innovosens – is a proud winner of EIT Health Catapult for Scandinavia, Innovosens is qualified for the semifinals and will compete in San Sabastian, Spain end of September.
Innovosens is proud to be receiving a Soft grant from Stenk Johnsons, Stiftelse.
Sten K Johnson established a Foundation with the purpose of promoting research, development, education and culture in entrepreneurship, literature, music, medicine and technology.