“Numerous Finnish companies are making significant strides in the development of diagnostic and therapeutic solutions, particularly in the realms of cancer research, diagnostics, and ocular therapeutics.”
In September, the University of Helsinki announced a substantial 4.5 million euro grant from the US Department of Defense for a breast cancer research project. The collaborative effort with the University of California, San Francisco aims to leverage Myc, an oncogene, to reprogram cancer cells for rapid growth while making them susceptible to novel drugs. The grant facilitates the development of targeted treatments, enhancing patient responses to immunotherapies.
Orion, in August, entered into a licensing and research co-operation agreement with Sweden’s Alligator Bioscience, focusing on discovering bispecific antibody-based therapeutics for immuno-oncological targets. The partnership aims to pioneer next-generation cancer drugs with improved efficacy.
Aiforia, a Helsinki-based health tech startup, secured 17.5 million euros in an equity funding round in September. The funding will accelerate the development of AI-assisted diagnostic tools for diseases like breast and lung cancer, with CE-marked in-vitro diagnostic solutions set to launch later this year.
Finnish companies Abacus Diagnostica, Kaivogen, and Labrox joined forces to deliver a unique point-of-care testing solution for cancers and infectious diseases. The solution combines antibody and polymerase chain reaction (PCR) tests, enabling rapid identification of over 10 bacteria or viruses from a single sample. This versatile and cost-effective solution aims to expedite diagnoses during the first patient appointment.
The demand for decentralized diagnostic solutions is rising, driven by factors such as population aging and increased mobility impacting the spread of communicable diseases.
Finland’s health technology exports have reached record highs, with the sector’s exports exceeding imports. The availability of health data in electronic format and a supportive regulatory environment position Finland as a hub for research, innovation, and development in health technology.
StemSight, a spin-off from Tampere University, secured 500,000 euros in funding to harness stem cells for curing corneal blindness. The all-female team aims to develop an off-the-shelf treatment using allogeneic human pluripotent stem cells, potentially regenerating the cornea.
Turku-based DelSiTech and Seattle-based Visus Therapeutics entered an exclusive licensing and collaboration agreement for long-acting ocular therapeutics. The partnership focuses on developing solutions for ocular diseases, utilizing Silica Matrix, DelSiTech’s drug delivery technology platform.
In the dynamic landscape of health tech innovation, Finland continues to play a pivotal role, pushing boundaries and pioneering solutions that have the potential to transform healthcare outcomes globally.