Edinburgh Molecular Imaging (EMI), a spin-out of the Scottish capital’s university, has raised £4m ($6.5m) from venture firm Epidarex Capital.
The funding will be used to further develop EMI’s imaging technology, used to diagnose and monitor diseases. EMI’s current focus is on lung conditions such as cancer and fibrosis, but will eventually be expanded to include a wider range of diseases.
EMI, which was founded in 2011 and based at Edinburgh University’s bioquarter, aims to increase disease survival rates by detecting conditions in the early stages of development.
Kev Dhaliwal, EMI co-founder, said: “This investment from Epidarex Capital heralds an important landmark in the journey of taking our concepts and research from the bench to the bedside and ultimately to improve patient care.”
Liz Roper, partner at Epidarex, added: “We believe this technology has the potential to facilitate major changes in the diagnostic medical imaging market, particularly for diseases with low survival rates and where current diagnostic tools are failing to improve patient outcomes. We are looking forward to working closely with the EMI team to take this product into the global healthcare market.”
