Sighted raises £13.4 million to advance cancer diagnostic offering

Early cancer diagnostics company Cited has announced a £13.4 million funding round co-led by BGF and Morningside Ventures, with participation from private investors. The investment includes a £3.4 million non-dilutive grant from the NHS Cancer Programme, which was announced earlier in the spring.

The financing will be used to expand in existing markets as well as enter the US market and further develop Cited’s research and development programs in gastrointestinal cancers and diseases. This will support the expansion of Sited’s work providing early detection testing for oesophageal cancer to NHS patients in primary and community care settings.

The NHS Cancer Program grant, awarded with the support of SBRI Healthcare, will be used by Sited to offer further trials in the community in Lancashire and South Cumbria, the East of England and Wessex Cancer Coalition region. It follows a £500,000 grant from SBRI Healthcare in spring 2022 for a separate project providing community testing in the north-west of England.

Cyted’s diagnostic platform combines a non-invasive test with data-driven biomarkers for early detection and risk stratification of cancer and inflammatory diseases. Its first use is in esophageal cancer.

Established three years ago, the company has distributed more than 15,000 of its tests to more than 80 sites across the UK to diagnose and monitor patients suffering from Barrett’s oesophagus, a precursor to oesophageal cancer. Created by a team including Professor Rebecca Fitzgerald OBE and Dr Marcel Gehrung from the University of Cambridge, Sighted is a prime example of bringing grassroots science to industry. Testing is also rolling out in community settings from August 2022, including primary care sites.

Oesophageal cancer is a global public health priority, with late diagnosis and long waiting times for endoscopy leading to poor survival rates. Earlier diagnosis and better monitoring of patients with Barrett’s esophagus, who are at high risk of developing cancer of the esophagus, can help ensure that the cancer is caught and treated early. By identifying cancer at its earliest stages, CytD’s technology helps reduce the number of unnecessary endoscopies, which has the potential to significantly improve patient outcomes and save lives – and is already doing so.

Marcel Gehrung, CEO of Sighted, said: “We are thrilled to have the support of existing and new investors as we work to bring our diagnostic products to more markets. This funding demonstrates a vote of confidence in our technology. Early stage cancer is a major global health problem, and we believe our technology has the potential to make a real difference in the lives of even more patients and their families.

The company plans to use the funding to strategically expand its team, expand geographically and drive new growth initiatives. Cyted is committed to making early cancer detection accessible to everyone, ensuring that patients at risk of cancer receive the care they deserve.

Lucy Edwardes Jones from BGF commented: “Site is one of the most innovative companies at the intersection of diagnostics and cancer. The company is solving a real-world problem with a simple and scalable solution. Their technology is already being used is being carried out in the UK health system, which has the potential to have a significant impact on patients around the world.

Morningside’s Anthony Aude said: “We are excited to continue our commitment to Cited’s fight against upper gastrointestinal cancer. Cited’s technology will revolutionize the way we detect and monitor early stage disease The proven clinical adoption and traction in recent years represents an exciting opportunity for early cancer diagnosis and targeted screening.

Sighted will be part of the start-up zone at the Med-Tech Innovation Expo on stand C32F at the NEC, Birmingham on 7-8 June 2023. Visit www.med-techexpo.com to register for free