Kromek awarded c. £2.5m by Innovate UK

RNS Number : 3292O

Kromek Group PLC

31 January 2023

 

31 January 2023  

Kromek Group plc  

("Kromek" or the "Group")  

Kromek Awarded Funding for c. £2.5m Breast Cancer Screening Solution Developments

Innovate UK provides funds for two projects to advance low-dose molecular breast imaging solution

Kromek (AIM: KMK), a leading developer of radiation and bio-detection technology solutions for the advanced imaging and CBRN detection segments, announces that it has been awarded funding from the UK's innovation agency, Innovate UK, for two research programmes to further develop a low-dose molecular breast imaging ("MBI") technology based on Kromek's CZT-based SPECT detectors.

The first project is designed to prove the feasibility of using a single photon detector for ultra-low-dose MBI. This 18-month project, worth £0.5m, is to be carried out solely by Kromek. The second project, worth £2.0m, is a three-year programme to obtain and deliver clinical data on a low-dose MBI system. It is being conducted in partnership with Newcastle-upon-Tyne Hospitals NHS Foundation Trust ("Newcastle Hospitals"), the University of Newcastle-upon-Tyne and University College London.

These two projects represent further commitments by Innovate UK and the partners to develop a low-dose MBI solution, and follow the successful outcome of a previous Innovate UK-funded project conducted by Kromek and Newcastle Hospitals to develop a faster, low-radiation dose MBI technology.

Traditional mammography is often less able to clearly image tumours due to the density of the breast tissue. MBI uses a radioactive tracer that 'lights up' areas of cancer in the breast and is effective even in dense breast tissue - which is prevalent in people who are at higher risk of cancer.

However, MBI currently involves a much greater exposure to radiation than mammograms. Kromek and the other partners are developing a solution that, based on the Group's CZT-based SPECT detector technology, uses low-dose MBI - to provide effective cancer detection with lower radiation exposure. CZT creates much clearer images and requires far lower radiation doses to do so, than comparable detectors, enabling the solution to deliver eight times less radiation than existing MBI technology.

Arnab Basu, CEO of Kromek Group, said: "Current routine breast screening does not meet everyone's needs because of its shortcomings in detecting cancers in dense breast tissue, a particular concern for younger women. Low-dose molecular breast imaging, which solves this, has the capacity to save thousands more lives, detecting cancers earlier, before they have time to spread.This helps not only the patient, but also the public health authorities who can provide the right treatment earlier and, ultimately, more cost effectively. This additional funding from Innovate UK will allow us and our partners to collate the data needed to progress to clinical tests and then deployment. We look forward to working with our partners to complete the programme."

Dr Nerys Forester, Consultant Breast Radiologist at Newcastle Hospitals, added:  "Breast cancer screening is a vital part of detecting cancer early when tumours are often too small to see and saves thousands of lives in the UK each year. For women with dense breast tissue, cancer can be more difficult to detect and diagnose through routine mammograms because it is harder to see abnormal changes in the breast on imaging. We are delighted to be leading the next phase of testing low-dose MBI, working closely with Kromek and University College London. In future, we hope this technology could help us to identify breast cancer in women with dense breasts at an earlier stage and save more lives."

For further information, please contact:  

Kromek Group plc
Arnab Basu, CEO   Paul Farquhar, CFO	[phone]
finnCap Ltd (Nominated Adviser and Broker)
Geoff Nash/Seamus Fricker/George Dollemore/Emily Watts - Corporate Finance   Tim Redfern/Charlotte Sutcliffe - ECM	[phone]
Gracechurch Group (Financial PR)
Harry Chathli/Claire Norbury	[phone]

Kromek Group plc  

Kromek Group plc is a leading developer of radiation detection and bio-detection technology solutions for the advanced imaging and CBRN detection segments. Headquartered in County Durham, UK, Kromek has manufacturing operations in the UK and US, delivering on the vision of enhancing the quality of life through innovative detection technology solutions.  

The advanced imaging segment comprises the medical (including CT and SPECT), security and industrial markets. Kromek provides its OEM customers with detector components, based on its core cadmium zinc telluride (CZT) platform, to enable better detection of diseases such as cancer and Alzheimer's, contamination in industrial manufacture and explosives in aviation settings.  

In CBRN detection, the Group provides nuclear radiation detection solutions to the global homeland defence and security market. Kromek's compact, handheld, high-performance radiation detectors, based on advanced scintillation technology, are primarily used to protect critical infrastructure and urban environments from the threat of 'dirty bombs'.  

The Group is also developing bio-security solutions in the CBRN detection segment. These consist of fully automated and autonomous systems to detect a wide range of airborne pathogens.  

Kromek is listed on AIM, a market of the London Stock Exchange, under the trading symbol 'KMK'.  

Further information is available at www.kromek.com. 

 

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