Cytosystems, an Aberdeen firm set up in 2006 to develop diagnostic tests for cancer, has been given a £1.5million funding boost.
Two-thirds of the investment came from local businessman Jamie Oag, managing director of Granite City oil service firm Optima Solutions UK.
Scottish Enterprise’s co-investment fund contributed the remainder.
Cytosystems has spent recent years working on advanced, laboratory-based tests for urological cancers.
The new technology is aimed at replacing invasive, distressing and expensive endoscopic procedures such as cystoscopy, which involves looking into patients’ bladders.
Craibstone-based Cytosystems is taking forward more than a decade’s worth of research by Cambridge University, Cancer Research Technology (CRT) – the commercial arm of Cancer Research UK – and the Medical Research Council.
The north-east firm secured exclusive worldwide licence rights from CRT to develop a non-invasive diagnostic procedure for bladder and other urological cancers, and is undertaking two major clinical trials in UK teaching hospitals.
Cytosystems chief executive Richard Berry said: “Over the past two years we have been able to develop technology and have completed feasibility studies.
“Early indications of being able to develop a non-invasive testing procedure are very encouraging.”
The company, whose research is led by David Galloway, is still at an early stage of developing its technology.
Much more detailed analysis and testing is needed before a product finds its way to clinics and hospitals, but the cash provided by Mr Oag and Scottish Enterprise is expected to help take the firm much closer to its end goal.
Mr Berry said: “It will enable us to develop additional technology to support and automate the core antibody science as well as allowing us to compare and validate the tests for their clinical usefulness and benefits to patients against existing standards. There is still a long way to go, but we believe that our unique urine-based diagnostic tests could benefit patients who currently have to undergo invasive and undignified tests, often over a long period of time.”
Mr Oag said: “Aberdeen has a wealth of talent and expertise across a range of industries, much of which goes unnoticed. I was both fascinated and greatly impressed by the highly technical pioneering work being carried out by Cytosystems.
“For me it is a privilege to have the opportunity to invest in something that has the potential to make a real difference to people affected by urological cancers.”
Scottish Co-Investment Fund boss Andrew Sloane said: “Access to equity investment is extremely important for innovative Scottish companies like Cytosystems.”