Medical imaging firm Michelson Diagnostics has raised just over £350k from a consortium of investors from the London Business Angels network.

Orpington-based medical-imaging firm Michelson Diagnostics (MDL) has raised more than £350k from a consortium of investors from the London Business Angels (LBA) network.

The money will be used to support multi-centre clinical trials of its new hand-held multi-beam Optical Coherence Tomography (OCT) imaging probe, which the company plans to launch in May or June this year.

The money will also support international commercial growth.

MDL received early-stage funding of £600k in October 2007 and a further £600k in July 2008, in rounds led by London Seed Capital with Catapult Venture Managers and London Business Angels.

MDL was founded in 2006 by Jon Holmes and four other ex-employees of Sira, the photonics instrumentation company.

The ‘Vivosight’ multi-beam OCT imaging technology is claimed to offer better resolution than competing OCT systems, which will allow clinicians to see - in real time and at far higher resolution than is possible with current ultrasound, MRI or CT imaging - the location and extent of a tumour, for a range of cancer types.

It is anticipated that the equipment will enable faster and more accurate cancer surgery, with major benefits for both the patient and clinician - removing the slow and painstaking process of taking multiple samples of tissue for analysis.

Primary applications are expected to be for skin and oral cancer.

MDL has already conducted trials on excised human cancer tissue in the UK, Germany and the US and will commence in-vivo trials during 2009.