Manchester University spin-out company Bioxydyn has secured a £650,000 investment from technology investment specialists MTI Partners.
Bioxydyn has also sealed nearly £500,000 of orders for its services from global pharmaceutical companies, bringing its total income to in excess of £1m.
It has launched two medical-imaging services to the clinical trials market: Dynamic Contrast Enhanced — Magnetic Resonance Imaging (DCE-MRI), and Oxygen Enhanced MRI (OE-MRI).
According to a statement, DCE-MRI provides improved insight into inflammatory diseases and oncology, while the OE-MRI platform, with its particular method of imaging the lung, gives the ability to characterise, stratify and monitor COPD, asthma and other respiratory conditions during drug trials.
Bioxydyn has plans to reconfigure its service platforms as software products, providing compatibility with existing MRI scanners.