#USA #Amsterdam #EQT Life Sciences #Cyted Health #Series B Financing

EQT Life Sciences Invests in Cyted Health

EQT Life Sciences recently announced a significant investment in Cyted Health, a prominent player in the field of gastrointestinal (GI) molecular diagnostics. The funding round, totaling $44 million, was classified as a Series B financing and is anticipated to fuel Cyted Health's expansion efforts in the United States. Not only is EQT leading this round, but it is also co-led by Advent Life Sciences and the British Business Bank (previously known as British Patient Capital). Continuing the support, existing investors such as Morningside and BGF have also contributed to this investment, accompanied by a strategic partnership with HCA Healthcare, which has provided a non-dilutive financial contribution.

The infusion of capital is expected to boost Cyted Health's commercial expansion in the U.S., enabling the company to further solidify its market presence established in the UK. This financing comes at a pivotal moment, as Cyted aims to broaden its portfolio of advanced diagnostic tools designed for esophageal conditions. Notable among their offerings is the EndoSign® platform, a device that has received FDA 510(k) clearance and facilitates minimally invasive collection of esophageal cells. Additionally, the platform supports advanced biomarker molecular testing, which helps detect various esophageal conditions effectively.

Having already achieved remarkable success within the UK's National Health Service, where it has completed over 35,000 tests, Cyted has built a strong foundation supported by a comprehensive collection of peer-reviewed publications that highlight the technology's patient acceptability and clinical relevance. Cyted's co-founder and CEO, Marcel Gehrung, expressed enthusiasm about the Series B financing, commenting, "This marks a defining moment for Cyted as we deepen our commitment to detecting esophageal diseases earlier. This investment will enable us to solidify our leading market position while expanding our presence in the U.S. and enhancing our portfolio with new, life-saving innovations."

Bruno Holthof, a Partner at EQT Life Sciences, remarked that Cyted's product positions it favorably to redefine the standard of care in upper GI diagnostics. He emphasized the standout innovation of its minimally invasive diagnostics platform and the opportunity it represents in the significant market segment.

Cyted Health is the brainchild of elite researchers from the University of Cambridge, whose mission focuses on transforming the detection processes for pre-cancerous, cancerous, and inflammatory conditions of the esophagus through advanced biomarker discovery techniques. In line with its growth, Cyted has recently expanded its advisory panel, forming a Clinical Advisory Board comprised of renowned clinicians and researchers in gastroenterology and oncology, who will provide strategic guidance as the company seeks to broaden its advanced diagnostics offerings and extend its reach across the U.S.

As Cyted Health sets its sights on an ambitious future, integrating cutting-edge resolution strategies into its diagnostic platform ensures it remains at the forefront of innovation in healthcare. With EQT's continued support and investment, the company is poised to make a significant impact on how gastrointestinal diseases are detected and managed in both the U.S. and UK markets.