Nostos Genomics raises €5M to speed up genetic disease diagnosis

Artificial intelligence (AI)-driven genetic analysis startup Nostos Genomics has closed a €5 million seed round with 42CAP, Frontline Ventures, Amino Collective and Entrepreneur First.

The firm’s disease identification platform, AION, can identify gene variants responsible for more than 10,000 diseases, cutting diagnosis time from an average of 12 hours to within two minutes. 

Dr Rocío Acuña Hidalgo, Nostos Genomics cofounder and CTO, said: “With this seed round we will be able to quickly expand our team, enter a series of new markets including the US and conduct more studies to further develop our platform.”  

Canary's rapid molecular COVID test achieves CE mark

Med tech firm Canary Global’s DigiGENE COVID-19 rapid molecular test kit can now be sold and distributed in the European Union (EU) after receiving a CE Mark.

The self-collected saliva-based test combines the use of loop-mediated isothermal amplification (LAMP), smart sensors and cloud-based analytics to produce a positive result in five minutes, or a negative result in less than 20 minutes.

Raj Reddy, Canary Global Inc president and CEO, said: “The ability to detect SARS-CoV-2 early, before the onset of symptoms, or those who never develop symptoms, will help drastically reduce household and community transmission.”

PrecisionLife announces first close of Series A financing to progress drug discovery

Global techbio company PrecisionLife Limited has announced the first close of its Series A investment round, co-ordinated by life sciences investment banking firm WG Partners LLP.

The ongoing financing will enable expansion of the firm’s growing pipeline of commercial opportunities targeting complex chronic diseases with AI-led drug discovery, clinical development, and healthcare solutions.

Steve Gardner, PrecisionLife CEO, said: “The investor interest we have seen is an indication of the appetite for AI-enabled precision medicines and the innovation of our unique analytical platform for mining patient data.”

Novartis and Aster partner to advance digital transformation and clinical research

Global medicines company Novartis has signed an MoU with Aster DM Healthcare, one of the largest integrated healthcare providers in the Middle East.

According to Gulf News, the agreement will enable Aster to access Novartis’ advanced therapy platforms and data science to strengthen treatment outcomes for patients.

Dr Azad Moopen, founder chairman and managing director, Aster DM Healthcare, said: “We have associated with Novartis in the past and are glad to enter into a multi-faceted partnership to enhance digital transformation and research.”

Rutherford Health welcomes UK’s 10-year cancer plan  

Rutherford Health plc, which operates a network of cancer and diagnostic centres in the UK, has welcomed health secretary Sajid Javid’s declaration of a “war on cancer” and proposals for a 10-year cancer plan, announced today.

The firm has offered its treatment and diagnostic services to the NHS on a not-for-profit basis for the next three years.

Professor Karol Sikora, Rutherford Health CMO, said: “A step change in rapid diagnostic services is the place to begin and there is a real opportunity for the NHS and the independent sector to work together to get to grips with this right away.”