University of Galway spinout, Relevium Medical, has been awarded €4.6 million in Government funding to develop an immediate and long-lasting treatment for knee osteoarthritis.
Relevium Medical secured the investment for their RestOAre project to develop therapies for debilitating chronic pain and disease progression of knee osteoarthritis.
Research by University of Galway academics has played a key role in the project, including innovative pain modelling and drug screening, along with scientific analysis of biomolecules derived from marine organisms which target receptors in the knee.
The funding was awarded through the Disruptive Technologies Innovation Fund (DTIF), which is managed by the Department of Enterprise, Trade and Employment and administered by Enterprise Ireland. It will support the development of a treatment that offers patients immediate long-lasting pain relief and reduced progression of knee osteoarthritis.
The disease is incurable, complex and progressively worsens over time impacting the whole joint structure. It is the fastest-growing cause of disability due to an ageing population and the obesity epidemic.
Affecting more people each year than cancer and heart disease, knee osteoarthritis (OA) is routinely described as the world’s largest hidden disability, with 250 million people globally living with knee OA, and the prevalence has doubled in the past 50 years.
The multibillion-euro knee OA market is primed for disruption with the majority of patients relying on damaging oral pain medications.
Professor Peter McHugh, Interim President of the University of Galway, said, “This Government investment is one of the most significant Disruptive Technologies Innovation Funds awarded to the University of Galway, and for one of our spinout companies to secure it, it demonstrates the scale of our ambition and impact as a global leader in research and innovation excellence.
“Relevium Medical’s treatment for knee osteoarthritis is ground-breaking and the team has global ambitions to improve the lives of people who live in chronic pain from the disease. The University’s commitment to a high calibre of research-led collaborations with industry will ensure we continue to develop transformative needs-led solutions for society.”
Founded in 2019, Relevium Medical is a spinout from the University of Galway BioInnovate Ireland programme and currently employs a team of nine people.
The project consortium is led by Relevium Medical in partnership with HookeBio (Ireland), and a research team led by Dr Leo Quinlan from the University of Galway’s College of Medicine, Nursing and Health Sciences which developed innovative pain model platforms and a drug screen programme, and Professor Olivier Thomas from University of Galway’s College of Science and Engineering which analysed biomolecules derived from marine organisms that uniquely target the key receptors the team have identified in knee osteoarthritis.
Dr Alison Liddy, Chief Executive and co-founder of Relevium Medical, said, “We are thrilled to lead this groundbreaking €4.6 million project in partnership with the University of Galway and HookeBio, to advance this innovative solution for knee osteoarthritis. This collaboration represents a significant step forward in addressing a condition that impacts millions worldwide and underscores Relevium Medical’s commitment to building a robust R&D pipeline.”
Minister for Enterprise, Trade and Employment, Peter Burke T.D., and Minister for Further and Higher Education, Research, Innovation and Science, Patrick O’Donovan T.D., announced the funding of €4.6 million to Relevium Medical, the first project to emerge under Call 7 of the Disruptive Technologies Innovation Fund.
Professor Martin O’Halloran, Director of BioInnovate Ireland, University of Galway and co-founder of Relevium Medical, said, “BioInnovate is delighted to see this alumni company growing and scaling, with the significant support of Enterprise Ireland and the DTIF programme. We are particularly proud of the fact that Relevium is a female-led company, and we hope Relevium’s achievement will encourage other ambitious women to join the BioInnovate programme.”
To date €376 million has been awarded to 105 projects across seven DTIF Calls. Prospective applicants can obtain detailed information on the Fund and on the application process through here.
