Healthtech companies Myelin-H and Arspectra, focused on the development of medical augmented reality glasses and multiple sclerosis respectively, were selected for funding following a joint call by the ministry of the economy, the Luxembourg National Research Fund (FNR), and Luxinnovation.
The Joint Call HealthTech funding project comes as a follow-up to the first one which was launched in 2021 when four research partnerships were eventually selected. This time, five candidate projects were whittled down to a final two, which will get access to funding of up to €2.41m – contingent on the research partners hitting various research milestones.
The ministry of the economy contributed €1,358m to the pot to support both startups, the FNR contributed €993,251 to support the research partner institutions, and the ministry of health contributed €50k to the CHL in the first project. The rest of the total of €3.35m in research budget is made up of the two companies’ own private funds.In partnership with the Luxembourg Institute of Health (LIH) and the CHL, Foetz-based Arspectra will validate the clinical application of its guided surgery technologies which make use of augmented reality in the treatment of breast cancer patients.
“”Research and scientific results are the foundation of progress and innovation.”
Andreea Monnat, Secretary General of the Luxembourg National Research Fund (FNR)
Myelin-H, created in Esch-sur-Alzette in 2021, will conduct a large-scale clinical study to demonstrate the effectiveness of a new software intended to be used as a medical device. The goal of this tool is to enable the remote (at-home) monitoring of the patients’ multiple sclerosis and their response to the treatment they are receiving. The company will partner with the Luxembourg Institute of Science and Technology (LIST) and Rehazenter. Speaking to Silicon Luxembourg in March, Myelin-H’s founder Zied Tayeb admitted that funding is a big obstacle for healthtechs, one that successful medical trials can help overcome.
“Research and scientific results are the foundation of progress and innovation. Technological advancements and medical breakthroughs are all deeply rooted in rigorous research. By actively leveraging research findings, we can bring about significant changes in society and the economy,” tells Andreea Monnat, Secretary General of the Luxembourg National Research Fund (FNR).
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