Cyted Health secures $44 million in Series B funding to expand its gastrointestinal diagnostics platform in the US and UK, aiming to enhance early detection of esophageal diseases.

Target Company Overview

Cyted Health is a prominent player in the field of gastrointestinal (GI) molecular diagnostics, specializing in innovative solutions for the early detection of esophageal diseases. The company recently announced the first close of its Series B financing round, raising $44 million to support its expansion efforts in the United States. Cyted’s advanced diagnostics platform features EndoSign®, a minimally invasive device that has received FDA 510(k) clearance for efficient esophageal cell collection, alongside cutting-edge biomarker testing.

The company's existing achievements in the UK include over 35,000 tests conducted through the National Health Service, bolstered by a comprehensive range of peer-reviewed publications that highlight its success in enhancing patient acceptability and achieving substantial clinical outcomes. With esophageal cancer recognized as one of the most lethal forms of cancer, having a mere 20% survival rate, Cyted's role in early diagnosis is crucial.

Industry Overview in the UK

The molecular diagnostics industry in the UK has experienced significant growth in recent years, driven by rising healthcare demands and advancements in technology. The increasing prevalence of cancer and the need for effective early d