May 24, 2024

UK startup offering low-cost infra red diabetes screening bags £1.5M in over-subscribed raise – UKTN (UK Technology News

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A worldwide epidemic and public well being problem, diabetes is killing extra people than breast most cancers and prostate most cancers mixed Yearly. It is A critical Rationalization for extreme problems Ensuing in blindness, kidney failure, coronary heart assault, stroke and decrease limb amputation, and the WHO tasks It is going to be the seventh main Rationalization for demise by 2030.

Early detection Is very important to prolonged-time period administration of the situation and enh…….

A worldwide epidemic and public well being problem, diabetes is killing extra people than breast most cancers and prostate most cancers mixed Yearly. It is A critical Rationalization for extreme problems Ensuing in blindness, kidney failure, coronary heart assault, stroke and decrease limb amputation, and the WHO tasks It is going to be the seventh main Rationalization for demise by 2030.

Early detection Is very important to prolonged-time period administration of the situation and enhanced life expectancy. However, screening presently Relies upon upon blood or urine checks which require plastic disposables with associated processing, logistics And pricey assets – and have been closely criticised for producing false constructives or failing to detect the illness.

Altering the state of affairs and Taking over the problem to combOn the illness, an revolutionary diagnostic startup is exploiting The power of infrapurple mild for its early evaluation. The medtech agency with workplaces in Cambridge, Norwich and Basingstoke, Glyconics has secupurple £1.5million in an Enterprise Funding Scheme (EIS) funding spherical forward of a collection A spherical subsequent yr.

It enhanced properly over the meant £850K in a enhance led by investment platform Wealth Membership and current buyers, Deepbridge Capital and Boundary Capital.

Recreation-changing screening system

Demand from Wealth Membership private buyers and angel buyers pushed The complete quantity further to £1.5 million. The enhance will fund An monumental-scale trial programme of Glyconics’ game-changing level-of-care diabetes screening system, Glyconics-SX, Earlier to making use of for regulatory approval and CE marking.

Handheld system

The non-invasive handheld system exploits Using miniaturised infra-purple (IR) spectrometry for the early evaluation of diabetes – detecting biomarker modifications in a affected person’s fingernail inside seconds and with out The want for single use plastics.

Information of the oversubscribed spherical comes scorching on the heels of The agency using internationally famend diabetes professional, Dr Päivi Paldánius to be its first Chief Medical Officer (CMO) As a Outcome of the group ramps As a lot as progress to The subsequent medical half.

Non-invasive strategy 

Glyconics has already been awarded a coveted EU Seal of Excellence certificates for its know-how, and was listed as Definitely one of many ‘80 standout European start-up pioneers driving seismic change Within the submit-pandemic world’.

Dr Kam Pooni, CEO of Glyconics, said: “Glyconics provides a transformational, value-environment nice, speedy and non-invasive strategy to diabetes screening – and it is testament to this pioneering system and all at Team Glyconics that this enhance was so significantly over-subscribed. We’re demilded to be persevering with with our current buyers and, Really, welcome our new buyers from Wealth Membership and completely different private buyers to the fold.”

Dr Adrian Parton MBE, Companion at Boundary Capital Companions said: “We have been demilded To assist …….

Source: https://www.uktech.news/featured/uk-startup-offering-low-cost-infra-red-diabetes-screening-bags-1-5m-in-over-subscribed-raise-20211118

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