A new spin-out from Queen Mary University of London (QMUL) looking to take early detection tests for cancer from research to reality has launched with an oversubscribed pre-seed round.
As well as QMUL itself, Procyon Diagnostics already has the backing of Cambridge-based Source Bioscience and a network of life sciences and diagnostics angel investors.
The company's first product, PancRISK, is planned for the UK market in early 2026, with a view to provide tests to the US, Middle East and Europe in due course.
PancRISK is a pancreatic cancer test built on 15 years of research led by Prof Tatjana Crnogorac-Jurcevic, an expert in molecular pathology and biomarkers at Queen Mary's Barts Cancer Institute, with funding from the Pancreatic Cancer Research Fund.
It uses machine learning to analyse biomarkers from blood and urine, which Prof Crnogorac-Jurcevic says makes it more effective than any other test in use or development - many of which rely on blood alone.
Procyon has also formed a strategic partnership with Personalised Diagnostics to develop PancRISK's user interface, secure digital storage and algorithmic analysis.
Prof Crnogorac-Jurcevic, chief scientific officer at Procyon, said: "Cancer survival depends heavily upon early detection.
"By detecting early on, our tests could save thousands of lives each year and make regular surveillance a realistic possibility.
"By establishing Procyon as a new spinout, we can bring these tests to patients as soon as possible."
Dr Phil Clare, chief executive of Queen Mary Innovation, added: "Procyon exemplifies the type of investable, impact-driven spinout we're creating at Queen Mary.
"The company combines world-class academic research with commercial leadership and investor backing from the start.
"Their activity will bring immense benefits to patients and their families."
Procyon is aiming to be a leading provider of biomarker technologies for detecting early-stage cancers.
It will use the data it collects for further research to develop a range of non-invasive tests, primarily based on bodily fluids such as blood and urine.