DySIS Medical Ltd, an Edinburgh, Scotland, UK-based medical devices company, completed a £7.4m funding round.
Backers included Copenhagen-based Lundbeckfond Ventures, which committed £6m, and existing shareholders Albion Ventures, NBGI and the Scottish Investment Bank (SIB), the investment arm of Scottish Enterprise, which committed the remaining £1.4m. In conjunction with the funding, Mikael Strindlund and Casper Breum from Lundbeckfond Ventures joined DySIS Medical’s board.
The company intends to use the funds to continue to expand in the US and Europe, where the product is sold.
Led by Alastair Atkinson, CEO, DySIS Medical develops and markets the DySIS colposcope, a cervical cancer screening product that employs advanced photonics and computer assistance to quantify and map the aceto-whitening process – providing clinicians with information to assist in the identification of pre-cancerous lesions.
The DySIS colposcopy system has a CE mark and has been cleared for use by the US Food and Drugs Administration.