November 26th 2015
With £550,543 of investment from, amongst others, Kevan McDonald and SyndicateRoom members, Check4Cancer will accelerate its already-impressive growth and help more people receive early, potentially life-saving diagnoses for cancer when treatment is most effective.
Check4Cancer was well received by SyndicateRoom’s investor membership, which helped the business to overfunded to 110% of its initial target.
By providing new testing technologies and methodologies that are not available on the NHS, Check4Cancer makes it convenient, comfortable and easy to diagnose cancers earlier. According to studies by Cancer Research UK, such early diagnoses can increase the survival rate for people with eight of the most common cancers by more than three times. To date, Check4Cancer can diagnose cancers of the bowel, lung, cervix, prostate and skin, covering 85% of all cancer incidence in the UK.
Founded in 2008 by Professor Gordon Wishart and Troels Jordansen – an expert in the field of breast cancer and an international Healthcare executive, respectively – Check4Cancer has experienced huge growth. Seven years ago, the company operated a single BreastHealth UK clinic in Cambridge. It now operates over 90 clinics across the UK, owns 90% of GeneHealth UK, and has secured partnerships with around 70 corporate clients (including Hewlett Packard, BBC, Deloitte, Hogan Lovells, BNY Mellon, Dixons Carphone) and an increasing number of private self-pay clients.
Investment is intended to power growth through brand building and by acquiring new customers for Check4Cancer’s private cancer screening service. As a result, the number of Check4Cancer’s corporate clients is expected to double from 2015 to 2016. VW, BDO, Franklin Templeton Investments, Aegas, Wiley, THB Group, Vanquis and others are already confirmed for 2016.
SyndicateRoom members invested in Check4Cancer at the same share class and at the same price per share as the lead investors, Kevan McDonald and others, as per SyndicateRoom’s unique, ‘investor-led’ business model. McDonald himself has a number of successful investments in his portfolio, including Black Circles, which was recently sold to Michelin for £50m.
Kevan McDonald, lead investor, said, ‘Check4Cancer’s biggest strengths are its business proposition, the scale of the market opportunity, and the chance to improve early detection and clinical outcome and to save lives’.
Most recently, Check4Cancer has revealed its newest partner: leading UK health services provider, Cigna UK HealthCare. The announcement, which was made during Check4Cancer’s funding round, further demonstrates the company’s acceleration. With capital secured from investors, Check4Cancer is expected to continue gathering speed over the coming years. As such, Check4Cancer anticipates an exit in the next three years.
Gonçalo de Vasconcelos, CEO and co-founder of the award-winning equity crowdfunding platform, SyndicateRoom, said, ‘The astounding growth achieved by Check4Cancer makes the company an impressive and exciting proposition. But further to that, by providing diagnosis when treatments are most effective, Check4Cancer’s offering carries the potential to increase the survival rate for some of the most common cancers. As the European leader in crowdfunding for life-sciences, it’s clear to me that SyndicateRoom members aren’t just interested in financial return; they’re motivated by the chance to invest in businesses that have social value. So it seems that Check4Cancer ticks all the boxes. With that in mind, I can’t say I’m surprised about the successful raise. I am, however, extremely pleased’.