17th Feb 2020 11:47
(Alliance News) - Frontier IP Group PLC said Monday its portfolio company Cambridge Raman Imaging Ltd has been awarded EUR140,000 by the EU's Graphene Flagship to accelerate development of its graphene-enabled scanning Raman microscope.
Frontier IP, which owns 33% of the Cambridge Raman Imaging, said its investee is initially developing a Raman-imaging scanning microscope to diagnose and track tumors, and for other detection applications.
The technology uses graphene to modulate ultra-short pulses of light that can be synchronised in time and are much lower cost than conventional systems, the company said.
"The company's scanning microscope will target real-time digital images of fresh tissue samples to detect and show the extent of tumours, their response to drug treatments and to allow surgeons to see if a cancer has been completely removed," Frontier IP said.
Frontier IP said the global market size for tumour analysis and tracking has been estimated to be GBP9.0 billion a year.
The Graphene Flagship is EU funded initiative, tasked with bringing together academic and industrial researchers to take graphene from academia and into society, the company noted.
Neil Crabb, chief executive officer of Frontier IP, said: "Cambridge Raman Imaging is our first spin out to develop a graphene-based technology."
"We're delighted the EU Graphene Flagship recognises the potential of the technology with the grant award to accelerate its development," Crabb said.
Frontier IP shares were untraded in London at 65.50 pence each on Monday.
By Loreta Juodagalvyte; [email protected]
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