Micrima lands a further £2m funding deal
The Bristol University spin-out gains backing for its cancer detection technology
A Bristol-based company which is developing radio wave technology to improve the detection of breast cancer has secured £2m of investment.
Micrima has gained backing from a syndicate of investors including the YFM Group, Swarraton Partners and existing investor NESTA.
The company, which is a spin-out from the University of Bristol, is developing a breast imaging system that captures high-resolution, 3D images through the use of harmless radio waves.
The MARIA system (Multistatic Array processing for Radiowave Image Acquisition) is believed to be more effective in spotting cancer in its early stages in younger women. Breast cancer is the most common cause of death for women aged between 35 and 59 in the EU, but it is felt that this is often due to a lack of screening.
The initial investment will fund the company’s technical development, as well as further clinical trials at the Frenchay Hospital in Bristol.
Roy Johnson, executive chairman of Micrima, said: “The new 3D breast screening platform under development aims to be safer, more convenient, and more economically viable in a greater number of countries, in addition to providing a practical solution to screening women below the age of 50.
“We are very pleased that, following our successful pilot clinical study, we have been able to attract this new funding from such a valued and committed group of investors.
“We are looking forward to generating data from the larger clinical trial that is now required to further prove the technology and its inherent benefits.”
© Crimson Business Ltd. 2008