Zilico has received £750,000 in investment funding from The North West Fund for Biomedical and £235,000 from its new and existing investors, Fusion IP, to develop and manufacture a new cervical cancer diagnostic device.
Funding was awarded based on the referral application, which completed a pivotal European trial of the device in 2011 across three hospitals in the UK and Ireland.
The cervical diagnostic system comprises a portable hand-held device, a single use disposable sleeve, and docking station.
The system uses electrical impedance spectroscopy technology to measure the resistivity of cells and to detect changes as cells progress from normal to precancerous and then to cancerous.
The first application of the device is to reduce number of biopsies, while the second application, currently under development, is to help reduce the subjectivity and time-taken with current tests.
Zilico chief executive Sameer Kothari said: "It is the strength of the Zilico proposition including the recent pivotal trial data that has enabled us to secure this significant investment."
The North West Fund for Biomedical, managed by Spark Impact, is a sub-fund of the £185m evergreen North West Fund that is jointly financed by the European Regional Development Fund and the European Investment Bank.
The North West Fund for Biomedical manager and SPARK Impact senior investment director Penny Attridge said: "Cervical cancer is the second most common cancer in women under 35 and we feel this technology really has the potential to become a successful diagnostic tool for this cruel disease."