Zilico Limited

Product: 
Technology Growth
Status: 
Open
Sector: 
Medical Technology
Aim of funding: 
Commercialisation
HMRC Advance Assurance received: 
Yes

Zilico Limited

Description: 

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.

Opportunity: 

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.

Information on this webpage relates to and is provided by Deepbridge Advisers Limited.

The content of this webpage should not be construed as financial advice. Any decision to invest should be made only on the basis of the relevant documentation for each investment. Past performance is not necessarily a guide to future performance. The value of an investment may go down as well as up and investors may not get back the full amount invested. Investments in small unquoted companies carry an above-average level of risk. These investments are highly illiquid and as such, there may not be a readily available market to sell such an investment. Deepbridge Capital LLP, Deepbridge Advisers Limited and Enterprise Partners LLP (together "the Sponsors," or "Sponsor) do not provide specific individual advice on the suitability of investments with regard to a potential investor's individual circumstances, risk tolerance or investment objectives and investors should seek independent financial advice if they are in any doubt whether a product is suitable for them.