About

HLectron is developing medical systems aimed at a breakthrough in cancer treatment. The company commercialises a platform technology developed at the Physics Department (Cavendish Laboratory) of The University of Cambridge. HL's technology can increase survival rates (demonstrated in human clinical studies) and has the potential to replace chemotherapy (demonstrated in animal studies).

Solution & Product

Despite advances, current cancer treatment protocols are still accompanied by residual high mortality (cancer remains the second leading cause of deaths) and serious side effects, as well as high direct and indirect costs. 18 million new cancer cases and 9.6 million cancer-related deaths occurred in 2017. There is also a burden to the overall economy due to reduced productivity of patients, as well as a dramatic impact on the quality of life of the patients and their family. In Europe the annual cancer-related cost is €140 billion, while just in the UK, NHS costs were €5.6 billion (2015) and costs to society as a whole (including loss of productivity) were €19 billion. The need and opportunity that HLECTRON addresses is to reduce the cancer burden for the patient, healthcare systems and society, by improving the treatment outcome. HLECTRON' s TOSCA project is a business breakthrough innovation project aimed at replacing systemic chemotherapy, thus minimizing side effects and disruptively improving both clinical and economic outcomes of cancer treatment. Thus, TOSCA has the potential to change the dynamics of healthcare-cancer treatment market, as well as address a major societal challenge.

Innovation & Scalability

The technology platform was developed within the framework of a major collaborative international program launched at the Cavendish Laboratory of the University of Cambridge in 2011, along with the spin off companies Cambridge BioMagnetics (CBM), Cavendish NanoTherapeutics (CNT). The founders of CBM, CNT, founded HLectron in Greece, transferring know-how in business and science. The Immediate Impact of TOSCA is lowering the costs of cancer treatment by 15% (for instance, one less chemotherapy session to achieve the same result per therapy cycle), as well as improving the patient’s life, due to less side effects resulting from the reduced therapy time and dose. This will be achieved by increasing the efficacy of current breast cancer treatment protocols by 15% (potentially saving €100 million per year in Europe alone) by deploying the medical system MagTherm™. The Ultimate Impact is replacing systemic chemotherapy, a major breakthrough in cancer treatment that could result in 50% efficacy improvement and cost reduction. To achieve this, HL will market the medical system NanoMagTherm™ to healthcare industry worldwide, addressing more cancer types in addition to breast cancer. TOSCA has the potential to create a new market.

Traction & achievements

In 2020, HLectron was awarded the Seal of Excellence of the European Commission within the framework of The European Union's Horizon 2020 programme. Prototype systems have been developed and demonstrated and validated in clinical settings, showing 15% increase in survival rates of breast cancer patients. Furthermore, Hlectron's second generation systems have been demonstrated to increase survival rates by about 40-50% in animal trials, by totally replacing systemic chemotherapy (no chemotherapy is given to the animals).

Team & Why Us

Hlectron's founders are experienced technology entrepreneurs who have been engaged with entrepreneurial activities for more than 25 years, at Cambridge in the UK. The core team has an extensive network of very high profile professionals worldwide, with particular strength in large emerging economies, such as in Middle East, China, SE Asia and South America,

Funding Needs

Hlectron seeks capital from private individuals and/or VC funds, to proceed with the regulatory approvals of its products, generate revenues in about 3 Years and become cash flow positive soon after. Minimum ticket is EUR 300,000; target amount is EUR 1,500,000.