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INSULYNC

INSULYNC: Changing the way diabetes is treated

Total Cost €

EC-Contrib. €

Partnership

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Outcomes and
results

INSULYNC project word cloud

Explore the words cloud of the INSULYNC project. It provides you a very rough idea of what is the project "INSULYNC" about.

40 71 patient gt clinical finalizing deteriorating blood 2012 people 65 track treatment 17m invested friends providers brings storage diabetes founded members insulync organize keep accuracy injections markets created revenues strategy insulin improves doctor data preparing medilync profit spending doctors sharing recording involve trials health validating 55 14 medical market first stakeholders 2025 cloudlync lack economic revolutionizing adherence routine iceland patients boost disciplined roi engage single 2040 jobs cloud social save computing injection 75 family relative billion huge obtain helps recordkeeping measuring time solution start company device glucose 35 healthcare entry million medication simplifies good

Project "INSULYNC" data sheet

The following table provides information about the project.

Coordinator	MEDILYNC EHF Organization address address: HILMISGATA 4 city: VESTMANNAEYJAR postcode: 900 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.
Coordinator Country	Iceland [IS]
Project website	https://www.medilync.com
Total cost	71˙429 €
EC max contribution	50˙000 € (70%)
Programme	1. H2020-EU.2.1.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies - Information and Communication Technologies (ICT)) 2. H2020-EU.2.3.1. (Mainstreaming SME support, especially through a dedicated instrument)
Code Call	H2020-SMEINST-1-2016-2017
Funding Scheme	SME-1
Starting year	2018
Duration (year-month-day)	from 2018-02-01 to 2018-05-31

Partnership

Take a look of project's partnership.

#	participants	country	role	EC contrib. [€]
1	MEDILYNC EHF MEDILYNC EHF Organization address address: HILMISGATA 4 city: VESTMANNAEYJAR postcode: 900 website: n.a. contact info title: n.a. name: n.a. surname: n.a. function: n.a. email: n.a. telephone: n.a. fax: n.a.	IS (VESTMANNAEYJAR)	coordinator	50˙000.00

Map

Project objective

Medilync is a start-up based in Iceland and founded in 2012 with the goal of revolutionizing the management and treatment of diabetes. Medilync has created a medical device that simplifies the way patients manage glucose measurement and insulin delivery. Diabetes requires a highly-disciplined routine of glucose control and insulin injections, being lack of accuracy and of recordkeeping one of the main reasons for a deteriorating health. There are about 60 million people with diabetes in the EU and this number will rise to 71 million by 2040. Up to 75% of all people with diabetes are not in good control of their condition, leading to huge social and economic costs. 40% of diabetes patients are >65 years, and need to involve family members, friends and providers in real-time to improve adherence to treatment. Medilync brings the first all-in-one medical device, INSULYNC, which allows for easy blood glucose measuring, recording of the injection of insulin, and real-time delivery of all this information for storage on a cloud computing system, Cloudlync, sharing it with the doctor and the patient’s family. INSULYNC and Cloudlync are highly integrated to help the patient keep track of medication and to organize all data relative to diabetes management under one single system. The solution helps patients to engage with family and doctors (improves treatment adherence by 35%), with the result of patients spending less (could save around €40 billion a year to European healthcare systems) and being in better health. The overall objectives of this project include finalizing and validating INSULYNC and Cloudlync with key stakeholders (e.g. clinical trials in key target markets), and preparing our entry strategy into the European market. Through this project we aim to boost the growth of our company and obtain €14.17M revenues (overall profit of 55%), while creating 30 new jobs by 2025, with a ROI of €4.9 per euro invested.

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The information about "INSULYNC" are provided by the European Opendata Portal: CORDIS opendata.