Zilico Limited has developed an innovative and patented cancer diagnostic device technology that will improve and extend current cancer screening programmes by providing accurate and objective results real-time.
The Company’s device examines the electrical impedance properties of tissues through electrical resistance analysis and measurement. Different organs have characteristic electrical impedances, and research has shown that it is possible to predict the impedance of different tissues once you know enough about their structure, resulting in knowledge of the impedance spectrum characteristic to a particular tissue. The Company’s technology provides an objective method to differentiate between normal, precancerous, and cancerous cells. This provides a real-time diagnosis that removes subjectivity and potentially avoids the need for a biopsy.
The initial focus of the Company is cervical cancer and oral cancer with future diagnostic activity planned to apply the same approach to oesophageal, anal, vaginal and vulval cancers amongst others. Zilico’s solution is objective whereas other components of the current cervical cancer diagnostic pathway (cytology and colposcopy) are largely subjective and incapable of scientific assessment of performance.
Since the Company’s founding, Zilico has focused upon the development of a research-based instrument into a device appropriate for commercial manufacture and routine use by medical practitioners in the execution of colposcopy (i.e. the medical diagnostic procedure to examine an illuminated, magnified view of the cervix and the tissues of the vagina and vulva). The device, called ZedScan, consists of a handheld device and a docking station, together with a single-use EIS sensor that is required for each patient tested. The two EIS products identified by the Company are the ZedScan for the referral market and the APX200 for the screening market.
Zilico’s business model is based on the ‘razor and razorblade’ model: a single device purchase complimented with a multipleuse sensor supply. The ZedScan device is used in conjunction with a single-use sensor.
The Company is focusing upon a distributor model, targeting 40 clinics by 2017 for the ZedScan and 140,000 global tests for APX200 once launched.
At present, the Company has secured agreements with a growing number of medical technology distributers, covering the UK, Ireland, Holland, Bulgaria, Israel, Bahrain, Thailand and Australia. The Company anticipates securing distributers in France and Russia imminently. A number of UK hospitals have adopted the Company’s technology. For example, the University Hospitals of North Midlands NHS Trust has adopted ZedScan, at the gynaecology departments at both the Royal Stoke University Hospital and the County Hospital.
We envisage an exit for our investors via an IPO or trade sale within 4-5 years, targeting a return in excess of 4x capital invested.