A government-backed venture fund for the North East of England has invested £100,000 into Durham University spin-out FScan, a prostrate cancer specialist.
The money was provided by the Three Pillars Investment Fund, which is financed by the regional development agency One North East, and is managed by local VC firm, North East Finance (formerly NStar).
FScan has developed a test for prostrate cancer which works by shining a light through a fluid sample from the prostate gland to determine concentration of citrate – which provides a significant biomarker for prostate cancer. It could be both a faster and more reliable way of testing that the current PSA (Prostate Specific Antigen) blood test.
The money invested by the Three Pillars fund will be used to speed up the development and commercialization of the test, with longer-term aims including using the technique on other medical conditions.