Biotech firm secures £1.85m to help save thousands of prostate cancer lives

A seven-figure funding boost to further develop a prostate cancer test could help save thousands of lives, its developers say.

Despite being the most common malignancy other than skin cancer diagnosed in men, prostate cancer survival rates have improved little in the past four decades. 

But UK-based biotech firm Nanovery is hoping to turn the tide for the 1.5 million men globally diagnosed with the disease each year, after securing £1.85m in funding in its quest to develop more reliable, simpler and accessible testing for prostate cancer.

The company, which has its headquarters in Newcastle-upon-Tyne, has joined forces with the Prostate Cancer Research charity to push forward with the work.

Dr Jayne Spink, Prostate Cancer Research’s Translational Research Director, said such a test would be “a real game changer” when it comes to tackling the disease, of which six out of 10 cases are diagnosed in men over the age of 65.

She said: “Early stage prostate cancer diagnosis is so important because it directly impacts survival rates and quality of life. We are delighted to be supporting Nanovery. A quick and reliable test that is simple to use and delivers detailed information about the patient’s tumour would be a real game changer.”

Nanovery CEO Dr Jurek Kozyra added: “While the mortality rates for other cancers are improving, prostate cancer has gone in the opposite direction. There are a number of factors, from fewer men getting tested, especially since the (Covid) pandemic, to unreliable tests.

“With our technology, we can provide low cost, simple tests that are ultra-accurate. By developing and rolling out these tests, an earlier reliable diagnosis could help save thousands of lives.”

Nanovery, which was launched in 2018 by Dr Kozyra who wanted to develop a more efficient diagnostic solution for chronic illnesses, has already developed a nanorobot platform to detect the likes of prostate cancer, liver disease, and severe conditions such as acute liver and kidney toxicity.

Nanovery founders Roma Galloway and Jurek Kozyra

The firm’s new nanorobot advancements include technologies that will be applicable for detection across sectors such as life sciences, pre-clinical drug development, agriculture bio, and food safety.

The most recent financial backing includes £500,000 from the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures, alongside investment from Prostate Cancer Research together with £250,000 from JR Holding ASI.

A further £350,000 has come from angel investors.

On top of this investment, Innovate UK has awarded the company a grant of £700,000 to develop its disease screening activities.

George MacGinnis, Healthy Ageing Challenge Director at UK Research and Innovation, said: “The project is developing a novel technology that offers a breakthrough in detecting cancer that affects increasing numbers of older men.

“It is opening up a new avenue for research charities to help the work they support to achieve the impacts they aspire to.” 

The Nanovery funding boost comes just days after the company announced it is ramping up its plans for commercialisation on the back of a successful NHS trial looking at the accuracy of its nanorobot technology, which can detect biomarkers for cancer and other disease directly in blood serum samples with a simple workflow – a process which can currently involve many steps and take hours if not days to produce results.

The test is based on DNA nanotechnology and Nanovery says the cost is less than that for tissue biopsy. 

The recent trial conducted at the North East Innovation Lab – part of Newcastle-upon-Tyne Hospitals NHS Foundation Trust – looked to test the accuracy of the Nanovery technology by comparing it with established methods.

The team of NHS scientists analysed a biomarker linked to acute liver injury from extracted Ribonucleic Acid (RNA) samples. At the same time, Nanovery examined the same samples using its own technology.

The findings showed that the Nanovery technology achieved the same level of accuracy as the traditional method, but quicker and more cost-efficiently.

Simon Rock, principal scientist at the NHS North East Innovation Lab, said: “The results from the Nanovery trial were very positive and lay the foundations for this ground-breaking technology which could one day transform the time and costs associated with the diagnosis of conditions such as cancer and liver disease. 

“We look forward to working with Nanovery as their technology moves through to commercialisation.”