Femtonics Manufactures Ventilators and COVID Tests

With the support from the European Union and the Hungarian government, Femtonics Ltd. has invested HUF 914.75 million to develop its COVID-19-specific ventilator and diagnostic manufacturing capacity in Kővágószőlős near Pécs, southern Hungary.

In a statement to the state news agency MTI, the company says it received a conditional reimbursable grant of HUF 731.80 million from the Széchenyi 2020 program for the development.

The aim of the project was to provide the necessary conditions for the domestic production of exportable Hungarian medical technology and medical diagnostics products, including the company's LUCA ventilator and its ultra-fast Femto-ID Covid test.

As a result of the development, it will be possible to manufacture the critical components of the ventilator family and the COVID-19 test developed in Hungary, they said.

According to the announcement, the 250-square-meter production facility, which was set up for medical technology research and manufacturing, will provide the opportunity to conduct neuroscience research, including laser microscopy measurements, and to produce mechanical components. The production line can also manufacture ventilator components and chip components for COVID tests, with built-in EU quality control processes.

Femtonics Research and Development Ltd. is an innovative and fast-growing spin-off company founded in 2005 by researchers of the Hungarian Academy of Sciences, focusing on the development, production and export of state-of-the-art two-photon microscopes optimized for neuroscience research and R&D activities.

According to publicly available company data, Femtonics Ltd. achieved net sales of HUF 1.484 billion in 2021, up from HUF 943 million in 2020, with a profit after tax of HUF 245 million in 2021 and HUF 67 million in 2020.