Luxcel Biosciences Announce Further EU H2020 Success With €1.5million Award And Rapid Expansion Plans
CORK, Ireland, July 26, 2017 /PRNewswire/ -- Luxcel Biosciences Ltd is delighted to announce a further European H2020 funding award, supporting the €1.5million MetaTox-HS product development, under the highly prestigious SME Instrument (SMEInst-02-2016-2017). Drug failure and high development cost (est. €2.3bn/new drug) has driven enormous growth in market need for in vitro scientific tests and models of disease that better replicate drug effect in the patient (in vivo). Critical tests are either not available, or only available on a few large, expensive dedicated instruments. Luxcel Biosciences Ltd can now bring these high performance tests, to all laboratory scientists, for use on fluorescence microplate readers; the current laboratory standard instrument available in approximately 20,000 labs, without the need for new capital expenditure on instrumentation or software. Luxcel Biosciences' low cost, flexible and easy to use in vitro cell metabolism and toxicity test kits and consumable products, developed and launched through MetaTox-HS (MitoXpress® UHS and dOxyCheck®) are made possible through an innovative synergy of fluorescence-based nanosensor technology and advanced polymer microfabrication.
"This award, following so quickly on the heels of a €2.5million H2020 Fast Track to Innovation award announced in February 2017 (MetaCell-TM), underpins our rapid expansion and brand leadership. Our growing portfolio of accessible and easy to use in vitro cell based assays means that we are truly becoming the one-stop-shop for Cell Metabolism whether you are an academic, a CRO or a Global Pharma company working in Drug Discovery," said Dr. Ian Hayes, Commercial & Operations Director, Luxcel Biosciences Ltd.
Contact Alanna Carty, 169330@email4pr.com, +353 86 2741539
About Luxcel Biosciences Ltd
Luxcel Biosciences Ltd was founded in 2002 in Co. Cork, Ireland, and is a multi-award winning provider of cost effective and easy to use real-time kinetic fluorescence-based in vitro live-cell test kits, targeting Cell Metabolism, Drug Safety and Toxicity, and Hypoxia and Oxidative Stress applications. Our customers range from University research scientists, to global Pharmaceutical Companies and Contract Research Organisations. Pfizer Inc., one of the world's largest pharmaceutical companies, is a key collaborator in the field of drug safety and mitochondrial toxicity screening. Several joint research publications in high impact journals have resulted from this successful collaboration.
For more information visit our new website www.luxcel.com
View original content with multimedia:http://www.prnewswire.com/news-releases/luxcel-biosciences-ltd-announce-further-eu-h2020-success-with-15million-award-and-rapid-expansion-plans-300493580.html
SOURCE Luxcel Biosciences Ltd