A ground-breaking Bristol healthtech company, Siloton, has secured £860,000 in funding to combat preventable blindness and potentially save the NHS over £1bn annually.
- Siloton’s advanced eye imaging technology could revolutionise the diagnosis and monitoring of retinal diseases through affordable, compact devices.
- The funding, including contributions from notable investors, raises Siloton’s total capital to £1.7m, supporting its ambitious market launch by 2025.
- Led by CEO Dr Alasdair Price, the company is poised to make substantial strides in reducing eye clinic pressures and enhancing patient care.
- Siloton’s innovative approach signifies a promising step forward in healthtech, with implications for both patient outcomes and healthcare expenditure.
A Bristol-based healthtech company, Siloton, has successfully secured £860,000 in its latest funding round. This vital capital will further the development and commercial rollout of their innovative eye imaging chip technology, which is set to transform the treatment of retinal diseases, the leading cause of sight loss in the UK.
Siloton’s pioneering approach involves compressing typically large and costly optical coherence tomography (OCT) systems into a single, compact chip smaller than a £1 coin. This technology promises not only to make diagnostics more accessible but also to empower patients to monitor their conditions at home, potentially saving the National Health Service more than £1bn annually.
The recent funding round saw investments from Evenlode Impact Investments, South East Angels, and the Francis Crick Institute, among others. Alongside an Innovate UK Biomedical Catalyst grant, these contributions have taken Siloton’s total funding to £1.7m, setting a strong foundation for their advancement towards market entry targeted for 2025.
Siloton is driven by a team of experts under the leadership of CEO Dr Alasdair Price, who highlighted the company’s readiness to transition from research and development to active product development. “We are on the cusp of a significant milestone with our technology,” Dr Price stated, reflecting on the company’s progress and future aspirations.
The company aims to produce the first commercial chip-based OCT image of a living eye, underscoring their technological edge. The broader objective is to provide cost-effective, precise, and efficient OCT systems, which are crucial in managing the growing population affected by retinal diseases. This innovative solution could alleviate the burden on eye clinics and significantly reduce preventable blindness.
Siloton’s advancements in eye imaging technology could herald a new era in healthcare, with significant implications for patient care and cost savings.
