Diagnostics company, Owlstone Medical, has announced that it is one of the three winners of the global Idiopathic Pulmonary Fibrosis (IPF) Catalyst Challenge, for its Breath Biopsy platform.
Award
The winners were selected from a short list of nine finalists (that were chosen out of hundreds of registrants) and were announced in Chicago during the final phase of the Challenge. The grand prize of $1,000,000 will be shared between the three winners equally.
Owlstone Medical’s Breath Biopsy platform is a non-invasive system that can capture and analyse breath samples for the presence of trace chemicals related to disease activity. It will be applied to finding volatile organic compounds (VOCs) in breath, which could allow for faster diagnosis of IPF and thus catch the disease at an earlier stage.
“We created the IPF Catalyst Challenge on behalf of the countless patients around the world living with this largely ignored, heartbreaking disease. By collaborating with brilliant minds and innovative thinkers across the globe, we knew we could attack IPF from all sides and truly make progress,” said Ken Bahk PhD, managing director, Three Lakes Partners. “We couldn’t be more thankful for the inspiring ideas we saw over the course of this competition, and are honoured to help bring our winners’ solutions to life. We’re excited for the promise that lies ahead.”
Billy Boyle, co-founder and CEO at Owlstone Medical, commented: “We are thrilled to win this award which recognises the potential of our Breath Biopsy platform for the early detection of IPF. Breath Biopsy is already being used in clinical trials for a wide range of cancers, including lung and colorectal cancer, and has recently been integrated into a major clinical development program for a novel drug candidate for respiratory disease. In taking this step towards a Breathalyser for IPF, we look forward to making a similar contribution to finding quality of life solutions for this devastating disease, and continue to work towards our vision of saving 100,000 lives and $1.5 billion in healthcare costs.”