Spin-out secures £4M to develop OMI Technology

Epidarex Capital, an early-stage life science venture capital fund, has announced a £4 million investment in Edinburgh Molecular Imaging (EMI). Scottish Enterprise's investment arm, the Scottish Investment Bank, also provided funding. EMI, an Edinburgh BioQuarter spin-out company from the University of Edinburgh, is developing a pioneering Optical Molecular Imaging (OMI) technology with the potential to address unmet needs in the diagnosis and monitoring of several major diseases.

Founded by the University’s Professor Mark Bradley, (School of Chmistry), Professor Chris Haslett an Dr Kev Dhaliwal (College of Medicine and Veterinary Science), the company is developing imaging reagents that detect harmful processes deep inside the human body, at the bedside, in real time and at molecular resolution. The company's initial focus is on lung conditions but the technology is applicable to a wide spectrum of disease.

Liz Roper, Partner at Epidarex Capital, said: "We believe this technology has the potential to facilitate major changes in the in‐vivo diagnostic medical imaging market, particularly in areas of high mortality and high cost, where current diagnostic tools are failing to improve patient outcomes. We are looking forward to working closely with the EMI team to take this product into the global healthcare market."

Dr. Kev Dhaliwal, Co‐founder of EMI, added: "As respiratory clinicians, we are faced with diagnostic uncertainty on a daily basis and we have few means in our current practice to rapidly and accurately diagnose, monitor and treat many pulmonary conditions. Over the past 5 years, we have been developing know-how and expertise in optical molecular imaging at the University of Edinburgh to overcome these hurdles. The investment by Epidarex Capital in Edinburgh Molecular Imaging heralds an important landmark in the journey of taking our concepts and research from the bench to the bedside and ultimately to improve patient care."