The Edinburgh biotech uses the capital to scale its 3D bioprinted tumour models across the UK, Europe, and the US.
"Our vision is to be at the forefront of cancer drug testing and provide personalised medicine testing to every individual suffering from cancer to improve their treatment and chance of survival. Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to accelerate oncology drug development significantly."
The Liverpool geospatial firm will partner with the European Space Agency to develop a high-resolution monitoring system.
"Supply interruptions cost utility companies billions of pounds each year, not only in trying to repair and restore supplies but also paying compensation to customers. Construction work is a key cause of disruption and the situation is likely to get worse in the future if planning laws are relaxed. Our systems help them make the most of the available data and take a pro-active approach to identifying and tackling potential hazards. The new system will be the most powerful to date and could help companies to dramatically reduce downtime, regulatory fines and their environmental impact."
The investment round was led by BGF, with additional backing from DSW Ventures.
"We have achieved a lot in a relatively short period but having the support of BGF will enable us to significantly accelerate all parts of our business and to firmly establish ourselves as the global leader in the next generation of market intelligence on the next generation of consumers. Having the backing of an experienced investor such as BGF, is an exciting validation of our commitment to reaching this goal."