Albion Ventures and the London Technology Fund have sold London-based X-ray imaging specialist Dexela to US Healthcare company PerkinElmer.
The company initially pioneered developments in breast tomosynthesis, an advanced imaging technique focused on the early detection of breast cancer.
In 2009, Dexela launched a family of flat-panel CMOS X-ray detectors for applications including mammography, fluoroscopy, dental CT, cardiology and non-destructive testing. These products have subsequently been exported to OEMs around the world, including Europe, the US, Korea and China.
Albion invested a total of £2.6m in Dexela, initially as lead investor in 2006. Albion and LTF then led a syndicate (including NESTA), that invested more than £3m between July 2008 and January 2009 to further exploit the growing number of commercial opportunities within the digital-imaging market.
‘At a time when UK start-ups are in need of public and private funding this is a superb example of how venture capital backing can help UK small business and it is encouraging that UK talent is attractive to a US S&P 500 company such as this,’ said Andrew Elder, partner, Albion Ventures.