3D displays firm Holoxica secures €1.3m cash injection

Holoxica founder Javid Khan demonstrates one of the firm's displays. Picture: Greg Macvean
Holoxica founder Javid Khan demonstrates one of the firm's displays. Picture: Greg Macvean
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Holoxica, the University of Edinburgh spin-out company that is pioneering 3D display technology, has secured €1.28 million (£995,000) of European funding.

The grant, from the European Commission’s €740m Horizon2020 SME instrument programme, will help the firm develop its medical imaging technology, which use holographic video displays in a bid to improve surgical procedures.

Holoxica founder and chief executive Dr Javid Khan said the funding will be used to build a prototype display for use in computerised tomography (CT), magnetic resonance imaging (MRI) and ultrasound scanning. The market for medical imaging 3D display is tipped to be worth an estimated $4.3 billion (£3bn) by 2020.

“We see holographic video displays completely transforming the field of medical imaging,” Kahn said.

“In recent years, there has certainly been improvements in the clarity and detail of datasets produced by ultrasound, CT, positron emission tomography and MRI scanners, but whilst these machines generate 3D volumetric imagery as a series of 2D ‘slices’ scanned through the body using radiation, we can present the scans as wholly 3D images via holographic volume displays.”

READ MORE: Holoxica is first to use Scots funding site

When built, the display will be tested in three pilot scenarios for medical training and also for live surgery. Holoxica will carry out initial testing Clinical Research Imaging Centre at the University of Edinburgh and Kings College and St Thomas’s Hospital in London. The firm said that Siemens Healthcare, the largest provider of medical equipment in Europe, is keen to trial the technology once it is ready for clinical use.

Holoxica, which is planning a move from Edinburgh University’s Scottish Microelectronics Centre to the city’s CodeBase technology incubator, is now seeking further investment from angel investors and venture capital funds to further develop its prototype.

Caroline Gray-Stephens, head of the enterprise Europe network team at Scottish Enterprise, said: “Holoxica’s success is remarkable given the fierce competition from businesses across Europe to access this funding; it’s great to see a Scottish company succeeding against some of the top European innovators.

“However, this is about more than just funding – Holoxica will also receive free business coaching as part of the package of support, and the enterprise Europe network team will be on hand to support the company as they commercialise their pioneering medical imaging technology.”