Tristel to invest $0.75m in cervical cancer specialist Mobile ODT

Tristel announced a strategic investment in Mobile ODT, an Israeli company which combines smartphone technology with hand-held medical devices for point-of-care diagnostics.

The AIM-listed company, a specialist in the manufacture of infection prevention products, invested $0.75m in MODT in exchange for a 3.27% stake.

Francisco Soler, Chairman of Tristel and non-executive director Paul Barnes also participated in the fund raising round, alongside lead investor Orbimed Healthcare Advisors,.

MODT raised total funding of approximately $10.7m via the cash call and Tristel will have a seat on the MODT board of directors.

Tristel's Duo high-level disinfectant foam was considered the perfect partner for EVA - as it is portable and self-contained, has no requirement for water or power supply, requires no maintenance, and can be used with minimal training.

EVA is MODT's proprietary smart-phone based medical device which allows any healthcare, no matter where they are in the world, to examine patients for signs of cervical cancer via a technique known as colposcopy.

EVA was approved by the US Food and Drug administration in 2016.

Tristel's boss Paul Swinney decribed the move as "an exciting development".

"MODT is at the forefront of this exciting development in healthcare, and has had the foresight to acknowledge the importance of disinfection. With its focus on women's health, a key area for Tristel, we are making this investment to cement our relationship.

"MODT plans next to make its technology platform available to Ear, Nose and Throat medicine (ENT), another stronghold for our Company. Oropharyngeal cancers are one of the fastest growing types, and are linked to HPV infection."