Birmingham-based Cytox was spun out from Oxford University and is the 63rd company to be created with the University’s IP. It is developing a blood test that checks for cell abnormalities and can identify the disease before a patient develops dementia.

Cytox has already secured £650,000 in a funding round led by Midven in December 2006. The company aims to start major clinical trials within two years.

Cytox’s chief executive Richard Hadden, who formerly worked at NESTA, says: ‘The effect of our work should very quickly have a dramatic effect on research into Alzheimer’s disease. We have already established a dialogue with a number of pharmaceutical companies who recognise the value of our new approach.’