Dysis Medical, a developer of Ultra colposcope used in cervical cancer screening, has secured £18m ($25m) to expand its operations and advance strategic R&D programs.
The company will use the investment to continue expansion in the US, UK and other key territories, as well as to advance strategic R&D programs.
Dysis said it achieved crucial key milestones including the launch of the latest generation device, Dysis Ultra, within the past year.
The firm’s US trial is said to be the most extensive evaluation of colposcopy performed comprising 7,555 patients recruited across 45 clinics.
Dysis Medical CEO Alastair Atkinson said: “This investment affirms the success we have had so far and will allow us to accelerate sales and the roll-out of our evergreen recurring revenue business model.
“We greatly value our partnership with Lundbeckfonden Ventures and are delighted by their recognition of our progress and their support as we continue our objective of saving lives by making DYSIS the new standard for colposcopy.”
Through using patented optical and software techniques, Dysis colposcope will scan a patient’s cervix, quantifies the results and present them to a clinician in the form of colour-coded map (DYSISmap).
The advanced colposcope measures the aceto-whitening phenomenon. It differs from traditional colposcopes by measuring aceto-whitening automatically, enabling to produce DYSISmap that helps clinician in diagnosis, biopsy and treatment.
DYSISmap is generated by an advanced technology, which measures the aceto-whitening reaction and resumes it in the form of an intuitive map.
DYSISmap can be easily presented and explained during the examination, enabling to improve understanding and reduce anxiety.
Lundbeckfonden Venture senior partner Casper Breum said: “We recognize the momentum the company is achieving globally and we are delighted to continue our involvement with DYSIS to improve women’s healthcare and cervical cancer screening.”
Based in Edinburgh, Dysis is engaged in the development of automated optical molecular imaging technologies for medical diagnostic and screening applications.
The company also has office in Tampa of Florida in the US.