A spinout company developing AI tech to improve diagnosis of blood cancer has won £125,000 in funding.
Spotlight Pathology was spun out of the University of Manchester in January 2020 by Dr Martin Fergie and Prof Richard Byers. Amid a shortage of highly trained pathologists, it supports them in making complex diagnoses.
The firm recently relocated to Sci-Tech Daresbury while CEO Dr Sam Perona – who exited Perfectus Biomed, the firm she grew from a startup – joined the co-founders with a focus on commercialising the platform.
Already in receipt of a £900,000 Innovate UK grant, which has allowed it to build up a significant data bank of blood tissue samples, the new funding comes from the health and life sciences pre-seed fund of Liverpool-based LYVA Labs.
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“We are delighted to receive this investment from LYVA labs. The investment process was rapid and straightforward, allowing us to keep a focus on developing the business,” said CEO Dr Perona.
“This investment will allow us to grow the team and accelerate our go-to-market plan.”
CEO of LYVA Labs, Lorna Green, is dedicated to untapping the potential of ambitious female entrepreneurs. She chairs Liverpool City Region’s new Female Founder Regional HIGH Growth Board, set up as part of the Lifted Project, a data and ecosystem-led approach to increasing the flow of capital to regional, high-growth female founders.
Akshay Bhatnagar, head of Investment at LYVA Labs, said: “LYVA Labs is delighted to back Sam, Martin and Richard in their mission to help reduce the number of people dying from blood cancer by providing the technology to allow more rapid diagnosis which will enable earlier treatment for the condition.
“We look forward to working with the team and seeing the product come to market over the next 12 months.”