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Medalytix Ltd raises £2m in venture funding from International Investors |
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Medalytix today announced it has successfully raised £2m in venture funding to support the International sales and marketing of its ground-breaking iGradingTM product and build its pipeline of intellectual property. The fund-raising was led by Hotspur Capital Partners, who were joined by Corporación Empresarial ONCE, the business and venture arm of the Spanish National Organisation for the Blind and existing investors the Rising Stars Growth Fund (RSGF) and Merseyside Special Investment Fund (MSIF). Medalytix are a specialist healthcare IT company providing automated image analysis tools for the early detection of disease. Medalytix' iGradingTM product provides automated detection of diabetic eye disease, the leading cause of working age blindness. With the burgeoning incidence of diabetes globally, technologies which allow cost-effective delivery of wide-spread screening for the complications which cost healthcare systems £billions globally are of great interest. Automated approaches to screening for diabetic eye disease have long been sought, with extensive academic effort spanning almost a quarter of a century. Working with a leading academic and clinical group at the University of Aberdeen and NHS Grampian with support from Scottish Health Innovations Ltd, Medalytix Ltd have developed iGradingTM, which now delivers this functionality to the market. In the absence of a trained resource base, implementation of iGradingTM can provide an immediate means of mass screening for eye disease in the diabetic population, allowing a healthcare system to introduce demonstrated cost-saving measures for the benefit of their patients and society. The iGradingTM system is designed to operate alongside any patient management software and can be seamlessly integrated with existing systems. Medalytix is furthering the development of its intellectual property base with research collaborations in other disease areas where early detection of disease can bring healthcare benefits. Media Enquiries: Joanne Phoenix T: +44 (0)151 513 5863 / +44 (0)7796 927 209 This e-mail address is being protected from spambots. You need JavaScript enabled to view it |
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