S4DX, Smart4Diagnostics, an EIT Health-backed project, has made a huge step towards accelerating the market entry of their innovative blood sampling system. In May 2021 they announced the successful closing of five million euros in series A fundraising. The investors include private investors such as SARSTEDT AG & Co. KG as well as the EIC Fund for direct equity investment in breakthrough technologies, established in 2020 by the European Commission.
“AI for patient data and antibiotic resistance” was the challenge, the 2018 EIT Health Wild Card programme published fo start-ups and other innovators to tackle. The programme aims to build game-changing life science companies to break new ground in health by challenging the status quo in areas of high unmet need. Talented innovators from all of Europe were invited to respond with their ideas. S4DX answered with their idea to create a “digital human blood sample fingerprint”, which first secured them a spot among the applicants that join the hackathon; putting them through their paces on everything from team formation, critical thinking, business model validation and pitching. When it came to pitching their solution in the finals for EIT Health investment to incorporate their company and bring their solution to market, S4DX convinced the jury and since then has been fostered within the EIT Health ecosystem. Through ongoing support from the EIT Health programmes Gold Track and Bridgehead, the team also received access to strategic mentoring, finance, investors, and the largest European healthcare innovation network.
The innovative idea, the start-up developed, is the “digital human blood sample fingerprint”, a complete data-picture of all quality aspects for human blood samples from collection to arrival in the lab. This way, the data is collected and instantly reported into the laboratory whilst the patient is still present. The current manual process takes up more time and can make require revisits to repeat the process. With S4DX, errors can be identified and corrected immediately with increased accuracy of the data and without necessitating the patient to repeat the visit and the procedure.
“As many as three in four medical decisions are based on diagnostic results – often blood samples. Currently, this process is being managed manually which can lead to errors and can cause many issues including slow diagnosis, repeated tests on the patient, and wasted resources. We need to revolutionise this crucial but underdeveloped area of the healthcare value chain to bring innovation where it can have instant and substantial impact”, comments Dr. Hans Maria Heyn, CEO and co-founder of S4DX.
“We are immensely proud of all that the S4DX team have achieved, including the latest funding round and attention of private investors as well as the EIC. As our first ‘Wild Card’ it is encouraging to see the swift progress that has been made since we first met them just a few short years ago. We look forward to continuing to support S4DX in their journey to market,’ Jorge Juan Fernández García, Director of Innovation, EIT Health.
To read more about S4DX, please visit wildcard.eithealth.eu/case-study/smart4diagnostics