14 Feb 2022

Development of a New Rapid Blood Testing Product for Patients Gets Closer to Market

Highly accurate results, available from a drop of blood in 10 minutes, avoiding the need for long turnaround times in laboratories, are a step closer, thanks to the acquisition of diagnostic specialists, Psyros Diagnostics, based at Discovery Park, by Swedish company Prolight Diagnostics AB.

Psyros Diagnostics is developing a rapid Point-of-Care (POC) patient testing product based on groundbreaking single-molecule counting technology that will provide simple and efficient testing near the patient.

The Covid pandemic has seen a dramatic increase in POC testing and highlighted both the clinical and economic benefits. The acquisition deal with Prolight Diagnostics worth £5.25 million, will allow Psyros Diagnostics to develop new tests and allow the product to reach the market and benefit patients more rapidly.

Paul Monaghan, one of the founders and Head of Engineering, Psyros Diagnostics, said: “This is an ideal partnership as Prolight Diagnostics share our strategic vision of revolutionising patient care, by providing clinicians with the tools needed to rapidly perform diagnosis near the patient.”

Ulf Bladin, Chief Executive, Prolight Diagnostics added: “We believe Psyros Diagnostics’ competence and experience is a very important addition and we plan to develop the most innovative Point-of-Care systems on the market. “

This acquisition is another example of how life science companies at Discovery Park carrying out transformational work are generating inward investment and generating economic growth.

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