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Michelson Diagnostics raises £150k to fund groundbreaking cancer imaging development
A £150k share issue by Michelson Diagnostics Ltd has been fully subscribed to by business angels and by friends & family of the company founders.
Together with a £140k LDA Grant for R&D, the raised funds will support the development of a state-of-the-art optical system used to obtain sub-surface images of lung tissue at more than 5 times the resolution of leading ultrasound systems. This will enable clinicians to recognise tumour tissue with great accuracy. Ultimately, the technology could be used during a surgical operation, to make sure that all of a cancer has been removed without cutting out healthy lung tissue unnecessarily.
Jon Holmes, CEO of Michelson Diagnostics, said: "This investment means that we will have an operating prototype ready for trials early in 2007. Its specification is already attracting sales enquiries from leading medical researchers keen to make use of the latest imaging technology".
The underlying technology under development by Michelson Diagnostics is called 'optical coherence tomography', or OCT. It looks set to impact many other areas of diagnostic medicine, including cervical and oesophageal cancer.
