CanSense, a Swansea, UK-based company that has developed a blood test to detect bowel cancer that uses laser light and artificial intelligence (AI), raised £1.5 million in funding.
The investment was from investment firm Mercia, the Development Bank of Wales, and liquid biopsy company Nonacus.
The funding will enable the company to further develop the product and carry out clinical trials in order to meet regulatory requirements and bring it to market.
CanSense’s test, which combines laser spectroscopy with artificial intelligence, is faster, less expensive, and less invasive than a colonoscopy procedure and more acceptable for patients than a fecal blood detection kit. It could help detect bowel cancer at an early stage when it is much easier to treat and the chance of survival is much higher.
CanSense’s blood test is based on research by Professor Peter Dunstan, Professor Dean Harris, and Dr. Cerys Jenkins at Swansea University which was partly funded by Cancer Research Wales.
Adam Bryant, the company’s CEO, said: “Symptoms of bowel cancer are non-specific so it is hard for GPs to detect. Many patients are sent for a colonoscopy but the majority of these tests are negative, creating an inefficient pathway which is now at breaking point. Our test could help GPs to make the right triage decisions, freeing up diagnostic services and ensuring high-priority patients are seen as quickly as possible. By detecting bowel cancer at the earliest possible stage, it could also significantly improve outcomes for patients.”
Company: Cansense Ltd.
Raised: £1.5M
Round: Unknown
Funding Month: March 2023
Lead Investors: Mercia and Nonacus
Additional Investors:
Company Website: https://cansenseltd.com/
Software Category: Cancer Diagnosis
About the Company: CanSense has developed a blood test that aims to save lives by diagnosing bowel cancer at an early stage. CanSense utilizes cutting-edge data analytics and machine learning to maximize the performance of its blood test aimed at triaging patients at high risk of cancer. The company's focus is delivering a blood test that is equivalent to a liquid biopsy for bowel cancer. CanSense brings together leading scientists, clinicians, and business experts to deliver the rigor and requirements for diagnostic development. CanSense is committed to delivering an innovative solution to a major global healthcare problem.
Source: https://businesscloud.co.uk/news/bowel-cancer-startup-raises-1-5m-in-investment/