OREANDA-NEWS. June 07, 2011. The Estonian Development Fund together with a private investor is investing EUR 300 000 in SelfDiagnostics, which is developing an innovative instant home test in pathogen-specific medical diagnostics. SelfDiagnostics is a start-up technology company established by entrepreneurs Marko Lehes and Indrek Tulp, reported the press-centre of   SORAINEN.

"In cooperation with a neurochemistry research team led by professor Ulo Langel we are currently focusing on developing a unique technological platform which creates a base for development of home medical diagnostic tests. The tests would be as easy to use as the current instant home pregnancy tests," comments Marko Lehes. Usage of domestic tests allows diseases to be discovered in their early stages, which increases the chances of cure and thus decreases medical costs.

SORAINEN Estonia advised SelfDiagnostics on the shareholder agreement with the Estonian Development Fund. The SORAINEN team was led by specialist counsel Urmas Volens and also included specialist counsel Kadri Kallas, senior associate Indrek Eelmets, and associates Indrek Ergma and Elvira Tulvik.

The Estonian Development Fund is a national development fund created by the Estonian Parliament, operating under the Estonian Development Fund Act, with the aim of initiating and supporting changes in the Estonian economy and society to accelerate modernisation of the country's economic structure, lead to growth in exports and contribute to creating new jobs requiring high qualifications. The Fund organises foresight projects and, in cooperation with private investors, makes venture capital investments in Estonian companies that are innovative, expanding and have international potential.