"Without VCT backing, DySIS Medical would not exist in the way that it does today."
Alastair Atkinson, CEO
Cervical cancer is highly preventable if detected early, but around 250,000 women die from the disease every year. DySIS Medical has developed an imaging system that detects pre-cancerous lesions in the cervix before cervical cancer develops.
At the time of the Albion VCTs’ investment, DySIS Medical was a research-based company with its headquarters in Greece. While its technology was effective, it required significant investment to recruit, train and deploy a direct sales force. The technology also needed modifications to meet the commercial requirements of the company’s target markets.
How VCTs helped
Albion Ventures was introduced to DySIS Medical by one of the early investors in the business. It helped DySIS establish a base in the UK, from where it could target both the US and European markets. It also funded the company to continue working on its product to the point where it won accreditation from the UK’s medical guidance body NICE, which stated that the technology was both clinically and cost effective in comparison to conventional cervical cancer screening. In total, the Albion VCTs have invested £3m in DySIS.
DySIS Medical has now established a direct sales force in the US, which is a key market due to its readiness to adopt new technology. Albion estimates that DySIS’s technology has improved cervical cancer detection rates from 25-50% to 85-90%, and has been used to scan 30,000 patients.
The company is particularly excited that disease has been detected in some patients that would otherwise have been missed, and believes its technology has the potential to save thousands of lives.