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Dr. Marilena Hadjidemetriou Receives €1.5M ERC Starting Grant to Advance Nanomedicine Research

by THEFUTURE.TEAM

September 10, 2024

Dr. Marilena Hadjidemetriou, a leading Cypriot researcher, has been awarded a prestigious €1.5 million European Research Council (ERC) Starting Grant to advance her groundbreaking work in nanomedicine. This significant funding will enable Dr. Hadjidemetriou and her team to explore innovative approaches in the field, with a focus on developing new nanotechnologies that could revolutionise the treatment of diseases such as cancer.

The ERC Starting Grant, one of Europe’s most competitive and highly sought-after research funding schemes, is awarded to early-career researchers who show exceptional promise and potential to contribute to frontier research. Dr. Hadjidemetriou’s project stood out for its ambition, scientific merit, and potential societal impact, particularly in how it could transform current medical treatments by leveraging the power of nanotechnology.

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Nanomedicine, a cutting-edge field that uses nanoscale materials for diagnosis, treatment, and prevention of diseases, has long been viewed as the future of healthcare. Dr. Hadjidemetriou’s research aims to push the boundaries of this field by developing novel nanoparticles that can target and treat specific cells within the human body. Her work focuses on improving the delivery of drugs to tumour cells while minimising damage to surrounding healthy tissues—an ongoing challenge in cancer therapies.

Speaking about her ERC award, Dr. Hadjidemetriou expressed her excitement and gratitude for the opportunity to continue her research with the support of such a significant grant. “This funding will allow us to make important strides in understanding how we can utilise nanotechnology to target diseases more effectively,” she said. “Our goal is to develop treatments that are not only more efficient but also have fewer side effects for patients.”

This achievement is not only a personal milestone for Dr. Hadjidemetriou but also a significant boost for Cyprus’ scientific community. Her success in securing the ERC Starting Grant highlights the growing international recognition of the country’s research capabilities. It also emphasises the importance of investing in science and innovation to position Cyprus as a competitive player in the global research arena.

Dr. Hadjidemetriou’s project has the potential to open new doors in personalised medicine, where treatments can be tailored to individual patients based on the specific characteristics of their disease. This would mark a paradigm shift in how diseases like cancer are treated, moving away from one-size-fits-all approaches towards more precise, targeted therapies.

The ERC Starting Grant will provide Dr. Hadjidemetriou’s team with five years of funding, allowing them to focus on pushing the boundaries of nanomedicine and exploring its applications in real-world clinical settings. With this support, Dr. Hadjidemetriou’s research could yield significant advancements in healthcare, potentially transforming how we approach some of the most challenging medical conditions of our time.

Cyprus’ Economic Resilience Affirmed: Fitch Confirms ‘A-‘ Rating Amid Fiscal Strength

by THEFUTURE.TEAM

May 24, 2025

Strong Fiscal Fundamentals and Robust Economic Growth

The international credit ratings agency Fitch has affirmed Cyprus’ long-term rating at A- with a stable outlook. This decision reflects the nation’s strong public finances, a significant reduction in debt levels, and steady economic growth. Officials at the finance ministry welcomed the move, describing it as a robust vote of confidence in the government’s prudent economic policies.

Notable Budget Surpluses and Debt Reduction

Fitch highlights Cyprus’ high primary budget surplus, projected at 4.3% of GDP for 2024, alongside a dramatic drop in public debt from 73.6% of GDP in 2023 to 65.3% by year-end. The surplus soared to 5.6%, marking the highest level in nearly two decades, largely due to rising revenues and disciplined spending. The agency forecasts continuous improvement with debt falling further to 52.6% of GDP in 2026 and potentially nearing 45% by 2030, assuming current trends persist.

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Economic Performance and Labor Market Strength

Cyprus’ economy is projected to grow at 3% for both 2025 and 2026, following a 3.4% expansion in 2024. A robust services sector and a healthy labor market are propelling this growth, with employment rising by 2% in 2024 and unemployment declining to 4.5%, close to record lows.

Market Vulnerabilities and External Challenges

Despite these positive developments, Fitch underscored persistent vulnerabilities, including a high current account deficit — estimated at around 7% of GDP over the coming years. This deficit, among the highest in the EU, is offset by sustained foreign direct investment (FDI) flowing into a diverse range of sectors. Additionally, while Cyprus’ banking system remains stable with a top-tier CET1 ratio of 24.5% and declining non-performing loans, long-term risks persist due to governance issues relative to other A-rated peers and exposure to regional geopolitical tensions.

Outlook and Policy Implications

Although Fitch’s model initially rated Cyprus at A, external risks necessitated a one-notch reduction. Future upgrades will hinge on continued debt reduction and narrowing the external deficit. Conversely, a downturn in public finances or a severe external shock could precipitate a downgrade. The finance ministry stated that the report is a testament to Cyprus’ steady economic trajectory, highlighting the ongoing commitment to responsible fiscal management as essential for bolstering both competitiveness and stability.

In conclusion, the agency’s assessment reinforces Cyprus’ sound economic fundamentals, while also flagging areas that require ongoing vigilance. As the government continues to implement strategic economic reforms, the outlook remains cautiously optimistic amid the broader global economic uncertainties.