News & Media
Pioneering Cancer treatment technology backed
Optical imaging company Michelson Diagnostics has secured £600,000 of early stage funding, enabling it to further enhance its pioneering technology and pursue in-vivo trials in a clinical environment. This innovative, next generation imaging technology addresses the key need for clinicians to see, during an operation and in real time, the location and extent of a tumour, for a range of cancer types. This enables faster, more accurate cancer surgery, with the associated benefits for the patient and clinician, when compared with the slow, painstaking process of taking multiple samples of tissue for analysis.
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The funding team with the EX1301 OCT Microscope. From left to right: Julie Newman (Catapult Venture Managers), Tom Flynn (MDL CFO), Mr Colin Hopper (Head, Unit of Oral and Maxillofacial Surgery, University College Hospital, London), Jon Holmes (MDL CEO) and Rob Desborough (London Seed Capital) |
The investment round was led by investment fund London Seed Capital in conjunction with the London Business Angels and Catapult Venture Managers.
Michelson Diagnostics has the potential to significantly impact a growing market for diagnosis, treatment and post-operative monitoring of early stage cancers. Within a clinical setting the company's technology allows surgeons to see the size and location of a tumour in real-time. This allows them to assess tumour margin and spread giving better surgical outcomes and less chance of readmission. Ex-vivo clinical testing at University College Hospital, London and Gloucestershire Royal Hospital has already demonstrated the huge potential of this new technology.
Robert Desborough, Investment Manager at London Seed Capital, commented:
"Medical Device technologies have the ability to significantly impact and extend the lives of patients worldwide. We are delighted to be involved with Jon Holmes and his team at Michelson Diagnostics as they address a major clinical problem with truly innovative technology, enabling the potential to save hundreds of thousands of lives globally."
Asked about the long term development of the business, CEO Jon Holmes commented:
"This funding will enable the company to continue the development of our Optical Coherence Tomography technology and demonstrate its potential to solve significant unmet medical needs in multi-billion pound markets worldwide. We are tremendously excited by the confidence shown in Michelson Diagnostics by our new investors, London Seed Capital (LSC), London Business Angels and Catapult Venture Managers."
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Mr Colin Hopper (Head, Unit of Oral and Maxillofacial Surgery, University College Hospital, London) with the MDL EX1301 OCT Microscope |
