Amadix Receives 15 Million Euros from the EIB for Research

The European Investment Bank (EIB) has signed a €15 million loan with Amadix to support the development and commercialisation of a blood testing system that enables the early detection of several types of cancer before the onset of symptoms.

This technology represents a ray of hope in the ongoing fight against cancer, as the survival rate for certain types of cancer can be significantly increased when detected at an early stage, such as colorectal cancer, for example.

Amadix bets on AI

Amadix is ​​a pioneer in the application of artificial intelligence (AI) in early cancer detection tests . Its technology is based on an algorithm that combines clinical characteristics identified by AI with the analysis of proteins and microRNA in plasma for the early detection of premalignant lesions. And thanks to this detection and the removal of such lesions, it is possible to effectively prevent the development of cancer.

This funding will support the research, development and manufacturing of Amadix products, including its lead colorectal cancer diagnostic test, PreveCol, and other products in development, PancreaDix and DiagnoLung, focused on the detection of pancreatic and lung cancer.

Amadix will also use these funds to boost its international expansion plan , the clinical validation of PreveCol in the United States and the consolidation of the company’s presence in both the European and American markets.

The EIB loan is guaranteed by InvestEU, the EU’s flagship program aimed at mobilising over €372 billion of additional investment from public and private funds to support EU policy objectives in the period 2021-2027.

The project thus contributes to Europe’s Plan to Fight Cancer and to the EIB Group’s strategic priority of accelerating digitalisation and technological innovation.

“It is very encouraging to see organisations such as the EIB supporting companies like ours, contributing to Europe’s Fight Against Cancer Plan and helping our international expansion. This will enable us to launch our revolutionary blood tests for early detection of cancer in the European and US markets. Thanks to the EIB’s support, more people will have access to innovative solutions such as liquid biopsy to prevent cancer, one of the main causes of death in the world, and live longer and better,” said Rocío Arroyo, founder and CEO of Amadix, in a joint statement with the EIB.

How companies can apply for EIB funding?

The EIB is a long-term financing institution of the European Union with its Member States as shareholders. It finances investments that promote EU policy objectives. That is, projects that foster competitiveness, boost innovation, promote sustainable development, strengthen social and territorial cohesion and support a fair and agile transition to climate neutrality.

The EIB is also the main shareholder of the European Investment Fund (EIF), which provides financing to SMEs through venture capital and risk finance instruments. The European Commission and financial institutions across Europe are also shareholders.

If your company has a project that you believe could contribute to achieving the objectives of an EU policy, you may be eligible for an EIB loan.

To apply for a loan, you must contact the EIB by email ( info@eib.org ), using the form available on its website or through its offices , providing sufficient information so that it can judge whether the project meets its credit objectives and has a well-prepared business plan.

Innovation in the fight against cancer

Amadix was not the only company to receive funding recently. Several companies focused on cancer research and treatment have recently secured funding. Sycai Medical raised €3 million to develop and deploy its digital medical device, which utilizes AI and big data to analyze medical imaging for early cancer detection.

Additionally, SunRock Biopharma and VHIO received €1.8 million from the State Research Agency to develop new antibodies for treating resistant ovarian cancer.

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(Featured image by Testalize.me via Unsplash)

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