Cyted raises £13.4m Series A round to accelerate non-invasive cancer testing

Cyted, the oncology diagnostics company with an early focus on oesophageal cancer, has raised £13.4million.

The Series A round was led by BGF and Morningside Ventures with participation from private investors.

Founded only three years ago, Cyted’s innovative diagnostic platform combines a non-invasive test with data-driven biomarkers for early detection and risk stratification of cancers and inflammatory diseases.

The investment includes a £3.4m ($4.2m) non-dilutive grant from the NHS Cancer Programme, announced earlier in the spring.

The financing will underpin Cyted’s US ambitions, scale in existing markets, and further develop programmes across gastrointestinal cancers and diseases.

It will also support the expansion of Cyted’s work providing early detection tests for oesophageal cancer to NHS patients in primary and community care settings.

The NHS Cancer Programme grant, provided with the support of SBRI Healthcare, will be used by Cyted to offer further tests in the community in Lancashire and South Cumbria, the East of England and the Wessex cancer alliance region.

It follows a £500,000 grant from SBRI Healthcare in 2022 for a separate project providing community testing in the North-West of England.

Oesophageal cancer is a global public health priority, with late diagnoses and long waiting times for endoscopies leading to poor survival rates.

Earlier diagnosis and better monitoring of Barrett’s oesophagus patients, who are at higher risk of developing oesophageal cancer, can help ensure that cancer is caught early and treated.

Created by a team including Professor Rebecca Fitzgerald and Dr Marcel Gehrung, both from the University of Cambridge, Cyted’s innovative diagnostic platform combines a non-invasive test with data-driven biomarkers for early detection and risk stratification of cancers and inflammatory diseases.

By identifying cancer in its earliest stages, Cyted’s technology helps to reduce the number of unnecessary endoscopies and has the potential to significantly improve patient outcomes and save lives – indeed it is already doing so.

The company has already delivered more than 15,000 of its tests to diagnose and monitor patients suffering from Barrett’s oesophagus, a precursor to oesophageal cancer, in more than 80 sites across the UK.

The test has also been undergoing rollout in community settings since August 2022, including primary care sites.

“We are thrilled to have the support of existing and new investors as we work to bring our diagnostic products to more markets,” said Cyted CEO and co-founder Marcel Gehrung. “This funding demonstrates a vote of confidence in our technology.

“Early-stage cancer is a major global health issue, and we believe that our technology has the potential to make a real difference in the lives of even more patients and their families.”

Lucy Edwardes-Jones, investor at BGF, said: “Cyted is one of the most innovative companies at the intersection of diagnostics and cancer. Their technology is already being used across the UK health system with the potential to have a significant impact on patients around the world.”

Anthony Aiudi, investment professional at Morningside, said: “Cyted’s technology will revolutionise the way we detect and monitor the earliest stages of disease.

“The proven clinical adoption and traction over recent years demonstrate an exciting opportunity for early cancer diagnostics and targeted screening.”