From left: Marina Donohoe, Enterprise Ireland; Minister Peter Burke, TD; Tara Dalton, Altratech; Niall Olden, Altratech. Image: Shane O'Neill/Coalesce
Altratech’s UbiHealth handheld device takes HIV testing out of the clinic and speeds up results.
Cork-based diagnostics start-up Altratech has been approved for a €10.5m investment from the European Innovation Council (EIC) Accelerator to develop a handheld device which can test for viral diseases.
The medtech firm has developed a patented molecular testing device called ‘UbiHealth’ that enables precise diagnostics that can be conducted outside of clinical environments.
Altratech said this handheld device that integrates silicon chips and nanotechnology can “dramatically improve” the accessibility of molecular testing, and provide “on-the-spot, reliable” test results.
UbiHealth can conduct viral-load diagnostics, for example to detect HIV biomarkers in a blood sample. The firm said that the investment from EIC will allow the company to conduct clinical trials on HIV patients and scale-up manufacturing and product development over the next three years.
Additionally, Altratech plans to improve the capability of this device to also include serology (the diagnostics of antibodies in the blood), it said.
“This award from the EIC along with the ongoing support from Enterprise Ireland will enable us to conduct both pre-clinical and clinical trials on the initial application of this technology,” said Dr Tara Dalton, the CEO of Altratech.
“Furthermore, we can extend our product offerings into other diseases, building a strong pipeline based on this innovative solution.”
Speaking to SiliconRepublic.com last year, Dalton, who works at the University of Limerick, said that the pandemic “exposed the need to take diagnostic tools out of clinical settings and into the community”.
“Altratech is responding to that need.”
Enterprise Ireland leads the National Support Network for Horizon Europe through which it supports Irish deep-tech companies to win funding from EIC funding programmes.
Marina Donohoe, the head of research and innovation at Enterprise Ireland said Ireland’s success with EIC funding “shines a spotlight on the innovation and capability of Irish companies to compete on a global level”. Irish institutions have been awarded about €500m in funding under the EIC accelerator to date.
In 2021, Altratech raised €5m in a funding round led by the Bank of Ireland Kernel Capital Growth Fund, Infinity Capital and Enterprise Ireland. Previously, the start-up received funding under the Horizon 2020 program, which Dalton said, “underpins the company’s scientific discoveries”.
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