Nightingale Health to receive EUR 20 million EU-financing to herald a new era of chronic disease prevention

Nightingale Health, the Finnish innovator of an internationally recognized blood analysis technology for chronic disease prevention, signed a EUR 20 million loan transaction with the European Investment Bank (EIB), guaranteed by the European Fund for Strategic Investments (EFSI), a key element of the Investment Plan for Europe, also known as the Juncker Plan.

The loan will be used to further accelerate the research and development of Nightingale’s blood analysis technology, facilitating better prediction and prevention for chronic diseases.

EIB Vice-President Alexander Stubb, responsible for innovation, said: “Chronic diseases are a nightmare, not only for those who suffer from them but also for those trying to cure them. The EIB is committed to supporting companies like Nightingale that can realistically make a big impact and improve the health of EU citizens. The support of the Investment Plan for Europe is particularly valuable here, and the operation is fully aligned with the objective of supporting high-skilled employment opportunities. This will also enhance Europe’s position as a major leader in medical innovation.”

The growing burden of chronic disease poses a significant threat to citizens’ wellbeing. It is also estimated that 70-80% of all healthcare costs in the EU are chronic disease-related, accounting for approximately EUR 700 billion.

Nightingale’s innovative blood analysis technology can detect early signs of a large number of these diseases, improving the assessment of a person’s future risk of developing heart disease and type 2 diabetes. By helping physicians and patients to better understand an individual’s chronic disease risk, effective interventions such as medications and lifestyle changes can be taken to slow and prevent disease progression.

The EUR 20 million loan from the EIB represents another major step forward integrating Nightingale’s technology in European healthcare. Already used widely in public health research, the company’s goal is to achieve full clinical integration for its technology by replacing conventional biomarker tests for chronic diseases. By further accelerating the regulatory approval process through rigorous scientific evidence generation, the company aims to realise the promise of precision medicine.

Original source: EIB
Published on 18 January 2019