A Northumberland start-up that aims to accelerate diagnosis and treatments of rare cancers hopes to raise between £2m-£3m this year.
Rarecan, which was recently named among this year's top UK SMEs, allows patients to share data about rare cancers with researchers and companies developing drugs with a view to speeding up the potential treatments and giving them access to clinical trials. The Hexham-based health tech firm raised £460,000 in seed funding last year and this year hopes to land a lead investor that can take it through its next funding round.
Most of the company's existing backers are angel investors impressed by Rarecan's plan to generate future revenues from biotech customers - including pharmaceutical firms - who want to access high quality data in order to develop treatments, products and services. It is hoped that Rarecan will help the drug development pipeline through identifying, screening and recruiting patients.
