Funding to Accelerate Launch of MeMed’s Point-of-Care Platform that Distinguishes Between Bacterial
and Viral Infections, Enabling More Prompt, Well-Informed Antimicrobial Treatment Decisions
HAIFA, Israel, November 13, 2019 – MeMed Ltd., a leader in host response-based diagnostic solutions,
today announced that it has received €2.5 million in non-dilutive funding from the European Innovation
Council (EIC). The EIC Accelerator (SME Instrument) award supports small and medium-sized companies
with breakthrough innovations and the potential to create new markets or redefine existing ones
globally. Among less than 5% of applicants selected for the prestigious award, MeMed will also receive
accompanying services the EIC provides to winners to more quickly scale their businesses and bring
disruptive technologies to market.
A previous recipient of the highly competitive SME award in 2015, and one of the few companies to ever
win it twice, MeMed is translating the immune system’s complex signals into simple diagnostic insights.
The company’s first-in-class, immune-based protein signature MeMed BV™ distinguishes between
bacterial and viral infections, supporting physicians in their efforts to rapidly and accurately determine
whether antibiotic treatment is appropriate. MeMed BVTM runs within minutes on MeMed Key™, a
pioneering platform that measures multiple proteins with central lab precision.
“We’re honored that the European Innovation Council continues to recognize and support MeMed,”
said Dr. Eran Eden, MeMed’s CEO and Co-Founder. “Their enduring commitment to MeMed’s mission
and approach reflects the growing maturity of our pioneering technology suite, as well as its potential to
broadly and meaningfully improve patient care.”
MeMed will use the funding from the EIC to accelerate expansion of MeMed BVTM ‘s applicability to
include minimally invasive capillary blood samples. This will pave the way to broadening the test’s
suitability across increasingly diverse clinical settings. The EIC award will also be used to fast-track the
generation of additional, real-world evidence to further validate MeMed BVTM’s clinical utility. The
supplementary real-world evidence will bolster the already available, unprecedented level of high-
quality clinical data on MeMed BVTM from more than 15,000 patients and multinational, double-blind
clinical studies, which have been published in leading peer-reviewed journals (including The LancetInfectious Diseases, Pediatrics, PLOS One and BMJ Paediatrics).
“This award also recognizes the urgency of challenging the status quo in antibiotic prescribing and
addressing the overuse of these important medicines, which leads to antimicrobial resistance, an
increasingly serious threat to global public health that MeMed’s disruptive technology suite is uniquely
positioned to combat,” said Dr. Kfir Oved, MeMed’s Chairman, CTO and Co-founder.
About EIC Accelerator
The EIC Accelerator (SME Instrument) is part of the European Innovation Council (EIC) pilot that
supports top class innovators, entrepreneurs and small companies with funding opportunities and
acceleration services. The main focus of the EIC Accelerator (SME Instrument) is on market-creating
innovations that shape new markets and generate jobs, growth and higher standards of living.