A YORK company which has developed a blood test which could diagnose lung cancer, has raised more than half a million pounds of investment.

Cizzle Biotech, based at Heslington Hall, which uses technology developed within the University of York, has secured a total of £546,000, including £325,000 from the seedcorn fund of investment organisation Finance Yorkshire, which is supported by the European Regional Development Fund (ERDF), Yorkshire Forward and the European Investment Bank.

It also includes £150,000 and £50,000 respectively from its existing investors Yorkshire Cancer Research and White Rose Technology Seedcorn Fund.

Dr John Lucas, chief executive, said the funding would help them take the product to market.

He said: “We plan to work with leading cancer institutions across the globe to further demonstrate the clinical benefits of our technology. We are hoping to develop the product to a stage where we can to partner with a leading player in the diagnostic industry who will be able to take the test through the required clinical and regulatory processes and to the market place.”

Dawn Coverley, founder and chief scientific officer of Cizzle, said: “There is so much good scientific research in British universities that could, with the right investment, be translated into a clinically useful commercial product. Sadly, most don’t receive the necessary support to make this transition. This investment is very important to Cizzle and will allow us to develop a technology that could have a big impact on the lives of cancer patients.”

Morgan Williams, commercial development officer for Yorkshire Cancer Research, added: “Despite causing the highest number of cancer-related deaths in the UK and being the second most common cancer in the country, lung cancer currently receives just 5.3 per cent of national funding. Yorkshire Cancer Research is helping to bridge that gap by committing 20 per cent of its research spending to cancers of the lung and airways.”