Siloton raises £860,000 as product launch nears

14th October 2024

Siloton

Sheryl Miles

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Bristol-based health technology startup, Siloton, has secured £860,000 in new funding to accelerate the commercial launch of its eye imaging chip technology, aimed at tackling the UK's most common cause of sight loss.

The funding will enable the further development of Siloton's Akepa optical coherence tomography (OCT) chip technology, with plans to bring a version to market for researchers by 2025. A significant milestone is expected later this year, as the company aims to capture the first-ever chip-based OCT image of a living eye in a commercial setting, marking a key step toward clinical use.

The funding round saw continued support from Evenlode Impact Investments, along with contributions from the South East Angels, the Francis Crick Institute, and other angel investors. Additional backing came from an Innovate UK Biomedical Catalyst grant, bringing the company's total funding to £1.7 million.

Siloton’s technology aims to revolutionise the diagnosis and monitoring of treatable retinal diseases by miniaturising traditionally bulky, expensive, and fragile OCT systems into a chip smaller than a £1 coin. This innovation could potentially save the NHS over £1 billion annually by allowing patients to monitor their condition from home, reducing the need for frequent hospital visits.

Retinal conditions such as wet age-related macular degeneration (AMD), retinal vein occlusion, and diabetic macular oedema affect millions globally, with AMD being the leading cause of sight loss in the UK. According to the Macular Society, approximately 39,800 people in the UK develop wet AMD each year.

Dr Alasdair Price, CEO of Siloton, commented: “Siloton has brought together a uniquely qualified team that is able to drive forward technology development at an unprecedented pace. This new support will help us take the next step towards commercialisation by shifting gear from R&D to product development.

“The population of individuals with retinal disease is growing. New, more affordable and accessible OCT systems like our Akepa technology will be critical to serving patients with precision and efficiency. In turn, this could help reduce preventable blindness, save healthcare providers billions of pounds, and reduce pressure on already stretched eye clinics.

“We are on the cusp of a significant milestone with our technology and look forward to sharing this in the not-too-distant future.”