Lundbeckfond Ventures backs DySIS Medical with £6m


healthcaresq_lrgEdinburgh-based medical devices maker DySIS Medical has raised £7.4m from venture capital firm Lundbeckfond Ventures and its existing investors.

Lundbeckfond contributed £6m, while the remaining £1.4m came from DySIS shareholders Albion Ventures, NBGI and the Scottish Investment Bank (SIB).

The company’s main product is the DySIS colposcope, which it said significantly improved the accuracy of detecting early stages of cervical cancer, making it highly preventable.

A clinical publication recently showed that DySIS detected 97 per cent of all cases of cervical cancer caused by the most prevalent form of the human papillomavirus.

Lundbeckfond Ventures senior partner Mikael Strindlund said, “DySIS Medical’s technology offers substantial clinical benefits in the fight against cervical cancer as well as improved cost-effectiveness over existing care.

“We believe DySIS is a compelling business to invest in.”

Lundbeckfond, which is focused on life sciences companies, invests up to €50m per year.

Last year the firm backed a £22m financing round for UK-based PsiOxus Therapeutics and co-led a €5m investment into chronic disease medicine company Enterome.

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