Cyted Health Collects $44 Million in Series B Financing

Cyted Health is $44 million richer these days, having closed a Series B financing round led by EQT Life Sciences and co-led by Advent Life Sciences and British Business Bank. Other investors included Morningside and BGF.  

“This Series B financing marks a defining moment for Cyted as we continue to deepen our commitment to detecting esophageal diseases earlier,” Cyted Health Co-Founder/CEO Marcel Gehrung said. “This investment will help us consolidate our position in the market by expanding our U.S. presence and adding new life-saving innovations to our advanced diagnostics portfolio.”

Cyted Health will use the money to accelerate the commercial expansion of Cyted’s diagnostics platform in the United States, consolidate existing commercial success across the United Kingdom, and expand its advanced diagnostic test portfolio. Cyted’s existing platform consists of EndoSign, a U.S. Food and Drug Administration 510(k)-cleared device enabling minimally invasive collection of esophageal cells, and advanced biomarker molecular testing for detecting esophageal conditions.

“Cyted is strongly positioned to redefine the standard of care in upper GI diagnostics worldwide. Its minimally invasive diagnostics platform is the standout innovation to capture this significant market opportunity, and we’re delighted to add the company to our portfolio,” BEQT Life Sciences Partner Bruno Holthof commented.

Cyted’s technology has already demonstrated significant success across the UK’s National Health Service, completing over 35,000 tests and building a robust portfolio of peer-reviewed publications proving unmatched patient acceptability and real-world clinical impact. Esophageal cancer is considered one of the deadliest cancers globally, with a survival rate of only 20%.

“Cyted has demonstrated a rare combination of clinical innovation, patient-centered delivery, and commercial execution with an impressive foundation in the U.K. We’re proud to support its next phase of growth,” Advent Life Sciences General Partner Kaasim Mahmood stated.

Cyted’s Series B financing round follows the recent launch of Cyted’s DETECT-ME clinical validation study, which has been enrolling patients across multiple U.S. sites since March. This study will validate the clinical performance of Cyted’s newest assays and molecular tests for detecting esophageal conditions using EndoSign.

“Cyted is an excellent example of the kind of high-impact business we aim to back. Their innovation has the potential to transform early cancer detection and create lasting health outcomes both in the U.K. and globally,” British Business Bank Life Sciences Director Carmine Circelli stated.

“I am pleased to see the British Business Bank back Cyted, a company whose growth demonstrates the ability of our universities to turn life sciences research into successful commercial opportunities with the potential to improve people’s lives,” Science Minister Lord Vallance said. “Life sciences form a critical part of this government’s ambitions for both the economy and healthcare and through our Life Sciences Sector Plan, we will continue to support the industry to even greater success.”

Founded by University of Cambridge experts, Cyted is developing minimally invasive cell collection coupled with proprietary biomarker discovery to transform the detection of pre-cancerous, cancerous, and inflammatory esophageal conditions.

Cyted Health is a gastrointestinal molecular diagnostics company striving to improve the early detection and prevention of esophageal adenocarcinoma through minimally invasive diagnostics. The company has built a portfolio of peer-reviewed publications, conducted more than 35,000 tests using its diagnostic platform, and is widely used across the National Health Service in the U.K. Cyted Health is actively expanding its presence in the United States.

EQT Life Sciences was formed in 2022 following an integration of LSP, a European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised more than €3 billion ($ 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.