Cyted Health, a gastrointestinal molecular diagnostics company founded by experts at the University of Cambridge, has secured £32.5m in Series B financing. The round was led by the British Business Bank, EQT Life Sciences, and Advent Life Sciences, with continued support from existing investors Morningside and BGF.
Cyted is pioneering the development of minimally invasive cell collection coupled with proprietary biomarker discovery to transform the detection of pre-cancerous, cancerous and inflammatory esophageal conditions.
The company’s technology has already demonstrated significant success across the UK’s National Health Service, completing over 35,000 tests and building a robust portfolio of peer-reviewed publications proving unmatched patient acceptability and real-world clinical impact.
The financing will be used to accelerate the commercial expansion of Cyted’s diagnostics platform in the US, consolidate existing commercial success across the UK, and expand its portfolio of advanced diagnostic tests. Cyted’s existing platform consists of EndoSign®, an FDA 510(k)-cleared device enabling minimally invasive collection of esophageal cells, and advanced biomarker molecular testing for the detection of esophageal conditions.
This Series B financing marks a defining moment for Cyted as we continue to deepen our commitment to detecting esophageal diseases earlier. This investment will help us consolidate our leading position in the market by expanding our US presence and adding new life-saving innovations to our advanced diagnostics portfolio.
Marcel Gehrung, Co-founder & CEO
I am pleased to see the British Business Bank back Cyted Health - a company whose growth demonstrates the ability of our universities to turn world-class life sciences research into successful commercial opportunities with the potential to improve people's lives. Life sciences form a critical part of this Government's ambitions for both the economy and healthcare - and through our Life Sciences Sector Plan, we will continue to support the industry to even greater success.
Lord Vallance, UK Science Minister
Life sciences is an area of real opportunity for the UK. We have an abundance of high potential, IP rich companies that can become market leaders if they have the funding needed to scale. This is why life sciences is one of the eight key sectors included in the Government’s Industrial Strategy. The British Business Bank is already the most active investor in UK life sciences, but the sector will continue to be a priority for our investment to ensure companies like Cyted can grow and fulfil their potential.
Leandros Kalisperas, CIO at British Business Bank
