DH25011 Oesophageal Cancer Diagnosis Company V01 300825

British medical tech firm secures $44m in funding Tracey Boles A British medical technology company that has created a diagnostic platform to detect oesophageal disease early has secured $44 million in new funding as it eyes expansion. Cyted Health was founded by experts at the University of Cambridge who wanted to transform the detection of pre-cancerous, cancerous and inflammatory oesophageal conditions. Taking its “minimally invasive” test involves swallowing a pill-sized capsule connected to a thread. The capsule dissolves, releasing a sponge that collects cells for testing. Oesophageal cancer accounts for more than 9,000 new cases annually in the UK but about 80 per cent are diag- nosed too late to treat effectively, so increasing early detection is crucial. The fundraising includes £5 million from the British Business Bank. It will be used to accelerate the commercial expansion of the company’s diagnostics platform in the US, consolidate “existing commercial success across the UK” and expand advanced diagnostic tests. Cyted’s EndoSign device has been approved by the US Food and Drug Administration. Cyted’s turnover grew by 40 per cent last year to £4.2 million and it expects to double revenues year-on-year both this year and next for their core product. It has built what it calls a robust portfolio of peer-reviewed publications, conducted more than 35,000 tests and is widely used across the NHS.