DynamX Medical: Making Cancer and Disease Screening Accessible and Affordable For All
Back at the beginning of 2017 BeamLine Diagnostics, now trading as DynamX Medical took part in the Greenlight Programme here at Capital Enterprise. Having worked closely with the team, we were excited to catch up with them and see what they have been up to since their time in the very first cohort.
DynamX Medical are developing a range of screening products covering many different sample types and diseases for which screening and/or diagnosis is currently excessively expensive, complex or unavailable. Their biopsy triaging system can identify healthy and benign tissue specimen with high accuracy within seconds. Using this system, healthy biopsies can be quickly identified before undergoing any processing, and eliminated from the histopathology pathway, a protocol called ‘resect and discard’.
The journey to DynamX Medical began while Co founder Liberty began her PhD at University College London. It was here she met Katie Willetts and asked her to be part of her research. Together they formed a strong partnership, with different yet complementary expertise. Liberty was looking to commercialise her research and had analytical expertise, whereas Katie’s expertise was more scientific. It was shortly after this that DymanX was born. Within 3 months the business rapidly grew, had raised a full SEIS round and hired both Chairman and Coordinator.
DynamX were part of the Greenlight programme way back in the first cohort in January 2017. They were keen to develop relationships and grow a network of useful and relevant contacts for business growth and investment. Although the programme wasn’t quite the right fit for DynamX Medical it did enable the team to speak to more people, practice their pitching skills and supported them in growing their network of start-ups and investors. In particular, the team describe the biggest outcome of the programme were the connections they made. This directly led them to secure £115,000 worth of investment from the London Co-Investment Fund managed by Capital Enterprise and Funding London.
Since being on the programme DynamX Medical are going from strength to strength. The team has grown to 4 full time members of staff alongside subcontractors and an advisory panel and are planning to upgrade their office space to include a laboratory. Adding to this, DynamX Medical have raised another £150,000 and closed an oversubscribed £650,000 round. Other successes include completing a 400 patient multi-centre clinical trial and winningan Innovate UK Grant of £100k to expand theirresearch and business to a different disease. The team are winners of several awards including the 2018 OBN Best Imaging Medtech awards and the 2018 Magnify Accelerator. Continuing with successes the team have a patent pending IP 100% owned by DynamX Medical, filed in 9 territories and have successfully completed their phase II clinical study for Oesophageal and Colon cancers.
2019 brings with it plans to rebrand in order to better communicate the platform approach to clinical problem solving and to better reflect the vibrant and dynamic team. Looking further into the future, DynamX vision aims to improve the speed and reliability of disease detection and diagnosis and for their products to be simple and fast to market. Through this approach, the team are conducting further studies and working towards achieving CE mark and FDA clearance.
We look forward to keeping in touch with the team at DynamX medical and hearing about all their successes into the future.