DYSIS Medical lands $25M investment to expand in U.S., U.K. and other markets | Bio Tech
DYSIS Medical of Scotland, which focuses on developing tools for women’s health, landed a $25 million investment the company said will be used to expand its business in the U.S., U.K. and other markets as well as for R&D purposes.
The finance infusion came from venture fund Lundbeckfonden Ventures, a longtime investor in DYSIS.
DYSIS is the developer of the Ultra colposcope that is used to screen for cervical cancer. The company said it has recently reached several key milestones in the latest version of the device with the publication of updated guidance recommending the adoption of the device by the U.K.’s National Health Service. Also, the publication of U.S. clinical data that indicated the device detected the cervical disease in 40% more of the women (7,555 patients in 45 clinics) in the study than if it had not been used.
The Ultra is a noninvasive device that aids physicians in detecting and diagnosing precancerous lesions of the cervix. DYSIS was founded in 2002.
“We greatly value our partnership with Lundbeckfonden Ventures and are delighted by their recognition of our progress and their support as we continue our objective of saving lives by making DYSIS the new standard for colposcopy,” Alastair Atkinson, DYSIS chief executive, said in a statement.
If identified at the precancerous stage, cervical lesions can be treated before they develop into cancer. Globally, cervical cancer is responsible for about 250,000 deaths a year, the company said.