£2M for Bristol imaging spin-out

Investment

Micrima, the spin-out from Bristol University that received £475,000 from investors in March, has gained a further £2 million to on-going technical development and further clinical trials at the Frenchay Hospital’s Breast Clinic in Bristol. Clinical work will then be extended to include women from other leading centres around the UK.

The new investment came from a syndicate of co-investors led by YFM Group and Swarraton Partners. Existing investor Nesta also participated in the funding round. The YFM Group investment was made from the South West Ventures Fund and Finance South West Growth Fund.

The company has adapted microwave radar technology that is commonly used for detecting landmines. It says the method does not require breast compression and the radiation used is non-ionising. At present breast cancer screening is carried out using X-rays, which because of potential health effects, have to be used sparingly, and avoided where possible in younger women. In contrast, the radar method may be very suitable for younger women.

Roy Johnson, Executive Chairman of Micrima, said: “The new 3D breast screening platform under development aims to be safer, more convenient, and more economically viable in a greater number of countries, in addition to providing a practical solution to screening women below the age of 50. We are very pleased that, following our successful pilot clinical study, we have been able to attract this new funding from such a valued and committed group of investors.

“We are looking forward to generating data from the larger clinical trial that is now required to further prove the technology and its inherent benefits.”
Nick Simmonds, Investment Manager at YFM Group, manager of the South West Ventures Fund, said: “This exciting new technology has the potential to fundamentally change the way in which breast screening is provided, as well as opening up the service for the first time to younger women.”
Stephen Brooke of Swarraton said: “We are excited to be backing the Micrima team and a technology that has shown great promise to date and has the potential to reduce suffering from breast cancer across the world.”