CAMBRIDGE, UK, 29 September 2020: Cyted Ltd (“Cyted” or “the Company”), a developer and provider of artificial intelligence technology and digital diagnostic infrastructure to enable earlier detection of disease, today announced that it has appointed Martin Frost as Commercial and Strategic Advisor. In this role, Martin will guide the Cyted team as the Company continues to grow and commercialise its products and services offering.
Martin has over 20 years of industry experience, including co-founding CMR Surgical in 2014. As CEO of CMR he was recognised as ‘UK Disruptor of the year’ in the 2019 Entrepreneur of the Year awards, and ‘Executive of the Year’ at the 2019 MedTech Insight awards, recognising his success in taking CMR from inception to global commercialisation with its surgical robot, Versius. To scale CMR, Martin raised over £250m, a record for any private European medical devices business.
Previously Martin has held a number of C-suite positions including CEO and CFO of Sagentia, the leading technology development company based in Cambridge, which he listed on the London Stock Exchange. Martin qualified as a Chartered Management Accountant, graduated from Cambridge University, and is Chair of the Peek Vision Foundation.
Cyted is enabling the earlier detection of disease, providing products and services that combine proprietary artificial intelligence technology and digital diagnostic infrastructure with next generation biomarkers. With significant expertise in pathology, the Company is developing a pipeline of digital and molecular tests for disease detection and risk stratification, to streamline diagnostic and clinical workflows. Cyted is initially focused on oesophageal cancer, where the combination of an identifiable at-risk population coupled with excellent therapy options offers a unique opportunity to improve patient outcomes through early detection.
Dr Will West, Chairman, Cyted, said:
Martin is a recognised commercial leader in successfully scaling technology and life science businesses. To have him involved at this stage of Cyted’s development is fantastic, as we embark on the next phase towards commercialisation.”
Martin Frost, Commercial and Strategic Advisor, Cyted, said:
What the team at Cyted has already achieved in terms of technical developments is impressive, and I look forward to working with Marcel and the Company as we continue to build strategic partnerships and move towards the commercialisation of Cyted’s products and services.
Marcel Gehrung, CEO of Cyted, said:
Martin has an exceptional track record in the biotech, medtech and medical device development sectors and it is a privilege to welcome him to the team. With Martin’s help we plan to focus on the development of partnerships with NHS trusts, academic health networks and commercial groups, as well as continuing to expand the team at all levels.
Cyted raises £8.7M in first funding round
Cyted is enabling the earlier detection of disease, providing products and services that combine proprietary artificial intelligence technology and digital diagnostic infrastructure with next generation biomarkers.
With significant expertise in pathology, the Company is developing a pipeline of digital and molecular tests for disease detection and risk stratification to streamline diagnostic and clinical workflows. Cyted has the capacity to rapidly implement its sample processing and analysis workflow at scale via Dialogical®, its proprietary pathology reporting platform based on machine learning algorithms.
The Company’s services and products are initially focused on oesophageal cancer, where the combination of patient population, pathological analysis and therapeutic options offers a unique opportunity to improve patient outcomes through early detection.
About Morningside Venture Capital
Morningside Group was founded in 1986, by the Chan family of Hong Kong, to make private equity and venture capital investments. The group is managed by investment professionals who are entrepreneurial, have deep industry knowledge and are effective in the local environment in which they operate. In addition to its investment activities, Morningside Group is strongly committed to social responsibility.
About Project DELTA
Project DELTA aims to improve the diagnosis of oesophageal cancer. It is a collaboration between the Universities of Cambridge, Oxford, Kings College London, the PHG Foundation and Cyted. Advisory Board support is provided by Action Against Heartburn, Heartburn Cancer UK, the West Yorkshire and Harrogate Cancer Alliance and Newcastle University. The project aims to develop algorithms to identify individuals most at risk. These people will be offered a Cytosponge™-TFF3 test, which can be delivered in an office setting. Cyted will develop AI algorithms to assist pathologists with rapid diagnoses. People diagnosed with Barrett’s oesophagus can then be monitored regularly for early signs of cancer.