Pioneering Cancer
treatment technology backed by London Seed Capital
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.
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 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 Coherent 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.”
ENDS
Photo caption:
Scanner being examined at University College Hospital: Julie Newman Catapult Venture
Managers, Tom Flynn London Business Angel, Mr Colin Hopper Consultant surgeon
UCLH, Jon Holmes CEO Michelson Diagnostics, Rob Desborough London Seed Capital
Editor’s
notes
For further
information please contact: Robert Desborough, Investment Manager, +44 (0) 207
089 2338, robert@londonseedcapital.com
London Seed
Capital (LSC), www.londonseedcapital.com,
is a £4.8m co-investment fund that exclusively co-invests £50,000 to £100,000
alongside Business Angels in London and the South of England.
London Seed
Capital operates in conjunction with the London Business Angel network, through
which the majority of the required matched business angel investment is sourced.
An essential ingredient of the investment model that London Seed Capital follows
includes a cornerstone business angel investor co-investing as part of the
business angel syndicate with relevant skills that will be joining the company’s
board post completion.
Michelson Diagnostics
Ltd www.michelsondiagnostics.co.uk
Michelson Diagnostics Ltd is the
UK’s leading independent manufacturer and developer of Optical
Coherence Tomography medical imaging equipment. Founded in 2006, it is based in
SE London, UK. The company’s highly innovative optical probe technology offers
the best available sub-surface OCT images for cancer surgery guidance,
surveillance and diagnostic applications.
Michelson Diagnostics Ltd, 11A
Grays Farm Production Village, Orpington, Kent, BR5 3BD, UK
Jon.Holmes@md-ltd.co.uk
+44 (0) 20 8308 1695
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