The company behind the world’s first effective urine-based screening test for prostate cancer wants to raise money to expand.
Cambridge-based Oncologica has hired consultants FRP Advisory to tap potential investors for £6 million.
The funds will be used to complete clinical trials and win regulatory approval for its ‘revolutionary’ early-detection technology.
Prostate cancer is the most common cancer in men in the UK, with around one in eight diagnosed in their lifetime.
It mainly affects men over 50, with the risk increasing with age, and accounts for 12,000 deaths every year.
Expansion plans: Cambridge-based Oncologica has hired consultants FRP Advisory to tap potential investors for £6 million
At present, tests to check for prostate cancer include a prostate-specific antigen (PSA) blood test, imaging scans and sample, or biopsy, of the prostate gland.
But blood tests or scans alone cannot tell for sure whether someone has prostate cancer.
A biopsy is more reliable but can also find small, low-risk cancers that do not need treatment.
Oncologica has developed urine tests that distinguish between aggressive prostate cancers and harmless ones that require no treatment.
Dr Marco Loddo, co-founder and scientific director, said: ‘This accuracy ensures men are not subjected to unnecessary, costly, and invasive procedures.’
Co-founder and medical director Professor Gareth Williams added: ‘Our urine test will revolutionise early detection rates and patient outcomes.’
FRP partner Dan Bowtell said the innovation was ‘a shining example of the UK’s status as a global life sciences superpower’.
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