Geldards helps Bowel Cancer diagnostic start-up secure £1.5m investment
Geldards’ Corporate team has helped Swansea-based Medtech start-up CanSense secure a £1.5m investment to develop and trial a blood test using laser spectroscopy and artificial intelligence (AI) for the early detection of bowel cancer.
CanSense, a spinout from Swansea University, developed the blood test which is faster, less expensive and less invasive for patients to detect bowel cancer at an early stage when it is easier to treat.
CanSense’s blood test is founded on research conducted by Professor Peter Dunstan, Professor Dean Harris and Dr Cerys Jenkins at Swansea University who joined forces with entrepreneur & physicist Dr Adam Bryant to establish CanSense in 2019.
Geldards’ Corporate team advised CanSense on the £1.5m investment secured from Mercia, the Development Bank of Wales and Nonacus, leading on the deal was Partner Alex Butler and Associate Stewart Knights.
The funding will be used to further develop the test and conduct clinical trials to meet regulatory requirements and bring it to market. It is hoped the test will enable GPs to make accurate diagnoses, helping to save more lives and reducing pressure on the NHS.
Commenting on the deal, Stewart Knights, Associate said:
“Geldards were delighted to act for Adam, Cerys and the CanSense team in helping to secure this major investment for their innovative product which will revolutionise the early detection of bowel cancer. We’re excited to see how CanSense and its product will develop over the coming years. ”
Adam Bryant CEO from CanSense commented:
“It was a pleasure working with Geldards legal team to secure this major investment. As well as providing a friendly and professional service, Geldards took a holistic approach working seamlessly across departments helping us to align our three investors.”