Public Funding for Technostics Limited

Reflux disease affects 20% to 40% of all adults in the western world with the diagnostic process being either highly subjective or highly invasive. Detailed, invasive diagnostic processes are expensive and only available in secondary care. We have therefore identified a significant business opportunity around the development of a rapid diagnostic device which can be used in any setting to detect the presence of reflux disease. The key aims and objectives of this project are to evaluate in a real-life setting a prototype diagnostic device known as Peptest developed by Technostics Ltd. This non-invasive device uses antibody technology and brings molecular diagnostics into widespread use in gastroenterology/ENT for the first time. This evaluation will allow the most appropriate sampling methodology for a reliable result to be determined and will generate a significant amount of clinical data regarding use of the device which will help with accelerating its commercial exploitation. Market research has indicated that there will be a significant demand for this device from clinicians in both primary and secondary care in the UK and internationally. The potential benefits of successful commercial exploitation of this device are not just localised to Hull where Technostics is based. Whilst successful commercialisation of this device will allow Technostics to create jobs and invest in further R&D in house, it will also allow further stimulation of Technostics’ ability to collaborate with UK Universities and fund research posts within these. Furthermore, independent economic modelling has suggested that use of this device could potentially save the NHS budget £300 million per annum if deployed at scale. There would also be significant benefits to patients who suffer from reflux disease. Invasive diagnostic tests would be much less needed and overall quality of life would be improved through much more targeted treatment at the underlying causes of the condition.