RCS - Frontier IP Group - Cambridge Raman Imaging wins European Union grant

Frontier IPAnnouncement

10/02/2022 07:00

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RNS Number : 2239B  Frontier IP Group plc  10 February 2022

REACH

AIM: FIPP

10 February 2022

 

Frontier IP Group plc

("Frontier IP" or the "Group")

 

 

Portfolio news - Cambridge Raman Imaging wins European Union grant to
transform cancer diagnosis and treatment

 

Frontier IP, a specialist in commercialising intellectual property, today
announces that a  project coordinated by portfolio company Cambridge Raman
Imaging ("CRI" or the "Company") has been selected to receive a €3.3 million
grant in the European Innovation Council's ("EIC")Transition call.

 

The project, called CHARM, aims to develop a  medical device based on
high-speed, low-cost Raman digital imaging technology and artificial
intelligence to transform cancer diagnosis and treatment.  The technology
will analyse the molecular composition of patient tissue samples to
distinguish cancerous from healthy cells without the need for chemical
staining.

 

CHARM is a pan-European collaboration between CRI, the University of
Cambridge, Italian institutions Politecnico Di Milano and Consiglio Nazionale
Delle Ricerche, the Jena University Hospital in Germany, and project
management firm IN s.r.l. CRI is to receive €1.3 million of the grant, which
is being made to its wholly-owned Italian subsidiary Cambridge Raman Imaging
s.r.l.

 

The project coordinator is Dr Matteo Negro, CRI's Chief Technology Officer.
CHARM is one of 42 projects selected for funding from 292 submitted in the
first ever EIC Transition awards, intended to support moving technologies from
laboratories into the real world. It aims to develop the device to the
preclinical validation phase.

 

Frontier IP holds a 25.8 per cent equity stake in CRI.

 

CRI's Raman imaging technology uses graphene-based ultra-fast fibre lasers to
generate digital images of patient tissue for automatic analysis by artificial
intelligence to support diagnosis. Because the images are digital, they can be
viewed remotely, allowing histopathologists to work more efficiently and to
support regions and countries short of qualified staff. The technology also
potentially opens the way for personalised treatments for cancer.

 

The Company's technology is also part of CRIMSON, another pan-European project
developing technology to monitor diseases unfolding in cells in real time.
This has the potential to deepen understanding of the cellular origins of the
disease and to enable the development of new treatments. CRI has also entered
into a collaboration with Motic, a manufacturer of medical imaging devices.

 

The EIC is Europe's flagship innovation programme to identify, develop and
scale up breakthrough technologies and game changing innovations.

 

 

Dr Matteo Negro, Cambridge Raman Imaging's Chief Technology Officer and CHARM
project coordinator, said:  "We are proud to see our technology recognised by
the EU as a potentially disruptive innovation, able to strongly support
histopathologists in their clinical routine, by providing objective chemical
information on tissues to improve cancer diagnosis accuracy and personalised
treatment selection.

"CRI has a mission to bring coherent Raman histopathology to the clinical
market and the EIC Transition grant will be boosting our activities towards a
successful commercialisation of our innovation."

Neil Crabb, Chief Executive Officer of Frontier IP Group, said: "Cambridge
Raman Imaging's novel technology has the potential to revolutionise cancer
diagnosis and treatment, not least by making it more widely available through
histopathologists working remotely. The EIC grant provides further strong
validation of the approach being taken by the Company."

 

ENQUIRIES

 Frontier IP Group Plc                                                   T: 020 7332 2338
 Neil Crabb, Chief Executive                                             neil@frontierip.co.uk (mailto:neil@frontierip.co.uk)

 Andrew Johnson, Communications and investor relations                   M: 07464 546 025

 andrew.johnson@frontierip.co.uk

 Company website: www.frontierip.co.uk (http://www.frontierip.co.uk/)
 Allenby Capital Limited (Nominated Adviser)                             T: 0203 328 5656
 Nick Athanas / George Payne

ABOUT FRONTIER IP

Frontier IP unites science, finance and industry by identifying strong
intellectual property and accelerating its development through a range of
commercialisation services. A critical part of the Group's work is involving
relevant industry partners at an early stage of development to ensure
technology meets real world demands and needs.

The Group looks to build and grow a portfolio of equity stakes and licence
income by taking an active involvement in spin-out companies, including
support for fund raising and collaboration with relevant industry partners at
an early stage of development.

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