Artemis will use the finance to develop its imaging devices for clinical trials and to undertake market research in the US and UK.

Artemis Diagnostics CEO David Tuch said the awards provide further affirmation of the company’s technology and the need for improved tools to detect cancer during surgery.

"We believe our molecular imaging technology will provide a significant advance in precision-guided surgery," Tuch added.

"We look forward to working with our surgeon collaborators to bring our technology into clinical trials."