Bristol-based health technology company Siloton has successfully raised £860,000 in a recent funding round. This capital will enable the development and market launch of a potentially life-changing eye imaging chip.
- Siloton’s innovative device aims to reduce preventable blindness by offering affordable monitoring solutions for retinal diseases, potentially saving the NHS £1bn annually.
- The company plans to commercialise its Akepa optical coherence tomography (OCT) chip by 2025, marking a significant shift from research to product development.
- Siloton is backed by multiple investors including Evenlode Impact Investments, as well as new support from the Innovate UK Biomedical Catalyst grant, bringing total funding to £1.7m.
- The firm is set to pioneer the first chip-based OCT image of a living eye, representing a key technological milestone.
In a groundbreaking effort to advance healthcare technology, Bristol-based Siloton has secured £860,000 in new funding. This crucial financial boost will support the continued development and eventual commercialisation of their cutting-edge eye imaging technology by 2025. Siloton’s novel device integrates complex imaging components into a single chip, smaller than a £1 coin, designed to diagnose and monitor treatable retinal diseases efficiently and affordably.
This innovative approach not only promises to alleviate the financial burdens of retinal disease management but also holds the potential to save the NHS over £1 billion each year. By enabling patients to monitor their conditions at home, Siloton aims to reduce the strain on NHS resources, offering a cost-effective solution to one of the UK’s most pressing healthcare challenges.
The company’s funding campaign attracted significant attention from esteemed investors, including Evenlode Impact Investments and South East Angels. Additionally, Siloton secured further support through a prestigious Innovate UK Biomedical Catalyst grant. Altogether, these investments bring the total capital raised by the firm to an impressive £1.7 million.
Chief Executive of Siloton, Dr. Alasdair Price, expressed enthusiasm about reaching this pivotal moment in the company’s journey: ‘We are on the cusp of a significant milestone with our technology and look forward to sharing this in the not-too-distant future.’ With plans to capture the first chip-based OCT image of a living eye in a commercial setting, the firm is poised for a remarkable breakthrough in medical imaging.
As the prevalence of retinal diseases continues to rise, Siloton’s Akepa technology stands as a vital intervention, promising to enhance the precision and efficiency with which patients are treated. Dr. Price further emphasised the importance of creating accessible and affordable OCT systems, stating that such advancements could significantly diminish preventable blindness and ease the pressure on overburdened eye clinics.
Siloton’s pioneering eye imaging technology represents a significant stride forward in the fight against preventable blindness.
