CanSense raises £1.5m from Mercia, the Development Bank of Wales and Nonacus to advance its bowel cancer blood test.
The Swansea-based diagnostics firm secured £1.5m from a syndicate of investors to support product development and clinical trials.
CanSense has developed a blood test combining laser spectroscopy and artificial intelligence to diagnose bowel cancer early. The method offers a faster, less invasive alternative to traditional colonoscopies.
Swansea-based diagnostics firm CanSense has secured £1.5m in funding from Mercia, the Development Bank of Wales and Nonacus. The capital will be directed towards product development and clinical trials necessary for regulatory approval and market entry.
The company's technology uses a combination of laser spectroscopy and artificial intelligence to detect bowel cancer from blood samples. This approach aims to provide a more patient-friendly and cost-effective triage tool for general practitioners, helping to reduce unnecessary colonoscopies and alleviate pressure on NHS services.
Investor perspective
"We’re pleased to have backed CanSense during this investment round with equity support. Their testing technology shows huge potential, with benefits for NHS backlogs if adopted widely, and we’re glad to support the work of this company as it brings its expertise to Wales’ increasingly strong med-tech sector."
Andy Morris
Investment Executive, Development Bank of Wales
Use of funds
- 01Continue product development
