Astron Clinica, the developer of SIAscope, a novel non-invasive system for imaging skin and diagnosing skin cancer, has won a GBP650,000 capital investment from ETCapital and Oxford Technology 2 VCT. ET Capital, the Cambridge-based venture capital firm, invested GBP400,000 through its QTP Fund and Oxford Technology 2 VCT made up the GBP250,000 difference. In return for the investment the two venture capital firms share a 12.4 per cent stake in Astron Clinica.
Astron Clinica, which is based in Cambridge, owns the patented SIA technology, which was originally developed at the University of Birmingham. Mike Cane, managing director of Astron Clinica, said: “I am absolutely delighted to have completed this round of investment, which will enable us to move ahead rapidly with our international development plans. The response of the international medical community to the SIAscope has been tremendous. SIA technology means earlier and more accurate diagnosis of a potentially life threatening skin cancer [malignant melanoma], helping patients and reducing overall care costs. The SIAscope provides a significantly quicker and more reliable method to analyse suspect moles, minimising patient anxiety.”
James Mallinson of ETCapital has joined the board of Astron Clinica.