Cyted Health raises $44m Series B to fast-track US expansion
The round was led by EQT Life Sciences, investing through its EQT Health Economics strategy, and co-led by Advent Life Sciences and British Business Bank with continued support from existing investors Morningside and BGF.
Founded by gurus at the University, Cyted is pioneering the development of minimally invasive cell collection coupled with proprietary biomarker discovery to transform the detection of pre-cancerous, cancerous and inflammatory oesophageal conditions.
The $44m will be used to accelerate the commercial expansion of Cyted’s diagnostics platform in the US, consolidate existing commercial success across the UK, and expand its portfolio of advanced diagnostic tests.
Cyted is already a force in the US market; its registered address is in Wilmington, Delaware, with partner laboratory facilities in Atlanta, Georgia. The company launched the DETECT-ME clinical validation study across 18 US sites, aiming to build an evidence base for its platform EndoSign®’s efficacy for the North American market.
UK Science Minister Lord Vallance was among those thrilled by the scale-up. He said: "I am pleased to see the British Business Bank back Cyted – a company whose growth demonstrates the ability of our universities to turn world-class life sciences research into successful commercial opportunities with the potential to improve people's lives.
“Life sciences form a critical part of this Government's ambitions for both the economy and healthcare and through our Life Sciences Sector Plan we will continue to support the industry to even greater success.”
Cyted’s existing platform consists of EndoSign®, an FDA 510(k)-cleared device enabling minimally invasive collection of esophageal cells, and advanced biomarker molecular testing for the detection of oesophageal conditions.
The technology has already demonstrated significant success across the UK’s National Health Service, completing over 35,000 tests and building a robust portfolio of peer-reviewed publications proving unmatched patient acceptability and real-world clinical impact. Oesophageal cancer is considered one of the deadliest forms of the disease globally, with a survival rate of only 20 per cent.
CEO and Co-founder Marcel Gehrung said: “This Series B financing marks a defining moment for Cyted as we continue to deepen our commitment to detecting esophageal diseases earlier. This investment will help us consolidate our leading position in the market by expanding our US presence and adding new life-saving innovations to our advanced diagnostics portfolio.”
Bruno Holthof, Partner at EQT Life Sciences, added: “Cyted is strongly positioned to redefine the standard of care in upper GI diagnostics worldwide. Its minimally invasive diagnostics platform is the standout innovation to capture this significant market opportunity, and we’re delighted to add the company to our portfolio.”
Cyted has built a robust portfolio of peer-reviewed publications, conducted over 35,000 tests using its diagnostic platform and is widely used across the National Health Service in the UK. It is a former winner of the Cambridge Judge Graduate Business of the Year category of the Business Weekly Awards, now in its 35th year.
