Swansea-based biotech startup, CanSense, has raised £1.5m in funding from investment firm Mercia, the Development Bank of Wales, and liquid biopsy company Nonacus. The startup, a spinout from Swansea University, has developed a blood test that uses laser light and AI to detect bowel cancer, which is less invasive than current methods and could help reduce the burden on the NHS. The company will use the additional capital to fund clinical trials and product development.
CanSense has raised £1.5m in funding from investment firm Mercia, the Development Bank of Wales, and liquid biopsy company Nonacus. Last year, the startup also received a £1.2m grant from the National Institute of Health Research. The additional funding will be used to support clinical trials and product development.
Investment firm Mercia, the Development Bank of Wales, and liquid biopsy company Nonacus have provided the £1.5m funding for CanSense. The company hopes to use its blood test to detect bowel cancer at an early stage, which would reduce the pressure on the NHS. CanSense’s unique and patented spectroscopy technology has shown real promise in early-stage clinical trial results as an early cancer detection screening or triage test.
CanSense’s blood test is less invasive than current methods, such as colonoscopies or faecal blood detection kits, and analyses small blood samples to detect bowel cancer. The startup hopes that its technology can help reduce the £300m spent annually by the NHS on colonoscopy procedures, despite less than 10% resulting in the detection of cancer. Bowel cancer is the second most common cause of cancer deaths in the UK, with over 16,800 deaths every year. CanSense is commercialising the research conducted by Professor Peter Dunstan, Professor Dean Harris, and Dr Cerys Jenkins at Swansea University. The trio teamed up with Dr Adam Bryant, now the CEO and director of CanSense, in 2019.
CanSense’s innovative technology has the potential to save many lives and lower the burden on the NHS. The company’s unique and patented spectroscopy technology has shown real promise in early-stage clinical trial results as an early cancer detection screening or triage test. With the additional funding of £1.5m, CanSense will focus on clinical trials and product development to bring its blood test to market.
