NEW YORK – Euformatics said Thursday that it has received a €350,000 ($363,000) grant from the European Commission's Recovery and Resilience Facility to create new software algorithms and workflows for diagnosing cancer and rare diseases from next-generation sequencing data. The Finnish company will also use some of the money to develop a quality control system that will allow groups of NGS labs to compare and validate their pipelines together.
A company spokesperson said that the two-year grant will cover half of the total project cost of €700,000.
The €723.8 billion Recovery and Resistance Facility is meant to help European Union countries recover from the COVID-19 pandemic. Healthcare and digital transformation are among the areas the fund is assisting.
"This research funding enables us to plan our development roadmap and offering in the long term so that the products will be based on a solid scientific foundation," Euformatics CEO Tommi Kaasalainen said in a statement. "We look forward to working with both industry and academic partners to showcase the results during the next several years."