LONDON and HAIFA, Israel, July 8, 2019 /PRNewswire/ -- Based on its recent analysis of the European diagnostic solutions market, Frost & Sullivan presented its 2019 European Technology Leadership Award to MeMed, the developer of cutting-edge immune system-based diagnostic solutions that quickly and reliably distinguish between bacterial and viral infections at the point of care.
The annual Frost & Sullivan Technology Leadership Awards celebrate companies that have created advanced technologies with the potential to transform and encourage significant, near-term growth in their industries. This year, Frost & Sullivan recognized Israel-based MeMed for its breakthrough diagnostic solutions, which can help physicians determine whether or not to prescribe antibiotic to their patients, and, in doing so, help to improve patient outcomes, bring down healthcare costs and combat the growing, global threat of antibiotic resistance.
"If unnecessary antibiotic prescriptions continue at their current rate, common infections will become untreatable due to antimicrobial resistance," said Hadar Cohen-Halevy, Ph.D., Consulting Analyst at Frost & Sullivan. "With MeMed's pioneering blood-testing solutions, healthcare professionals can accurately and rapidly determine whether an infection is viral or bacterial. This ability to quickly make better-informed treatment decisions based on the nature of an infection will play a key role in not only enabling, but also accelerating value-based care and efforts to manage the significant risks posed by drug-resistant pathogens."
MeMed's immune-based protein signature MeMed BV™ determines whether an infection is caused by bacteria that will respond to antibiotics, or by a virus which antibiotics cannot treat. To enable healthcare professionals to measure proteins with high precision at the point of need, MeMed developed the MeMed Key™ platform. The platform will also further the expansion of the company's pipeline of diagnostic tests, which integrate machine learning capabilities with immune-based measurements, to address a range of clinical challenges.
"The opportunity to profoundly benefit patients, both individually and at the population level, inspires the work we do every day and a tremendous sense of urgency to achieve our goals, as we tackle antibiotic resistance – a modern-day health crisis that is building dangerous momentum around the world," said Dr. Kfir Oved, MeMed's Co-founder and CTO. "We're delighted to accept the Frost & Sullivan 2019 Europe Technology Leadership Award and proud to be recognized for our novel diagnostic solution and the quality and quantity of evidence we built around it."
Dr. Eran Eden, MeMed's Co-founder and CEO added: "Recognitions such as this prestigious Frost & Sullivan Technology Leadership Award are a direct reflection of our team's steadfast determination, commitment to scientific rigor and the culmination of a decade-long quest to build the technology, body of clinical evidence and business model to address an immense clinical challenge and enormous market opportunity."
MeMed BV interprets the body's response to infection by integrating the levels of three immune proteins: TRAIL, IP-10, and CRP. The MeMed test demonstrates over 90 percent accuracy and enables diagnosis even when an infection site is not accessible (e.g. Pneumonia). MeMed BV also produces fewer false findings because "bystander" bacteria and viruses that reside in our body, but are not the cause of the infection, do not typically trigger immune responses.
MeMed Key is a multi-purpose point-of-care platform with similar principles to a central lab instrument at approximately 1 percent of the cost and size. The intuitive, easy-to-use platform can simultaneously measure up to four analytes and run the MeMed BV test within minutes.
"MeMed BV's accuracy has been validated by multicenter, multinational, double-blind clinical studies, and this, together with the range and precision offered by the MeMed Key platform, represents a true diagnostic health breakthrough," Cohen-Halevy said. "We are thrilled to recognize MeMed with our 2019 Europe Technology Leadership Award in honor of the company's outstanding success and innovation in the diagnostic health space."
Every year, Frost & Sullivan selects Technology Leadership Award recipients based on the findings of industry analysts, who compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices within specific industries. The Technology Leadership Awards are among Frost & Sullivan's Best Practices Awards, which recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development.
About Frost & Sullivan
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Frost & Sullivan Contact:
Bianca Torres
Phone: 210.477.8418, Email: bianca.torres@frost.com
About MeMed: MeMed is the developer of a cutting-edge immune system-based diagnostic that distinguishes between bacterial and viral infections at the point of care. Our mission is to translate the immune system's complex signals into simple diagnostic insights that can be used to transform the way infectious diseases and inflammatory disorders are diagnosed and treated, profoundly benefiting patients at both the individual and population levels. We developed and validated MeMed BV™, our pioneering immune-based protein signature, over the course of decade-long collaborations with leading academic and commercial partners, providing physicians with an indispensable tool in the fight against resistant strains of bacteria – one of the biggest healthcare challenges of our time. An ELISA format of MeMed BV™, called ImmunoXpert™, is cleared for use in the European Union (CE-IVD), Switzerland and Israel and is currently in pilot distribution in these markets. MeMed also developed MeMed Key™, a groundbreaking platform that makes it possible to precisely measure multiple proteins and signatures, both existing and new, within minutes at the point of care. Today, we are expanding our network of partnerships with internationally renowned academic, commercial and government stakeholders to advance, validate and facilitate the global availability of our platform and tests. For additional information on MeMed, please visit http://www.me-med.com.
MeMed Contacts:
Media: Adee Mor, VP Marketing, MeMed
Email: pr@me-med.com
Investor Relations: Kfir Emmer, VP Finance, MeMed
Email: kfir.emmer@me-med.com
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