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The researchers at the Royal College of Surgeons Ireland recently received €1.3 million from Wellcome Trust to support the development of the blood-based test.
The study aims to enroll 20,000 existing Biobank participants, as well as their adult children and grandchildren, from England, Scotland, and Wales.
Some believe that more could be done to help deliver diagnostics to the European market.
VALUE-Dx involves six IVD companies and is being heralded by participants as an opportunity for competitors to work together to improve test adoption.
Value-Dx is being spearheaded by six in vitro diagnostic firms and 20 non-industry partners and will be funded with with €14 million over four years.
The panel is designed to measure genetic markers in whole-blood samples in order to predict which patients are likely to experience a severe, relapsing form of the disease.