Press Release

Gold Standard Phantoms, a University College London’s Queen Square Institute of Neurology ( spinout company which is globally known for developing, marketing, and selling calibration services for Quantitative Medical Imaging, has developed a revolutionary solution to improve cancer diagnosis through Magnetic Resonance Imaging (MRI). MRI scanners produce detailed images that must be interpreted by qualified radiologists, and every scanner is slightly different, which can lead to misdiagnosis. To address this issue, radiologists need a means to calibrate scanners so that the images produced remain consistent across scanners and time.

Gold Standard Phantoms has developed CARE™, a state-of-the-art healthcare solution based on an advanced embedded phantom scanned with the patient, combined with a traceable calibration software solution.

The PREDICT project, aimed at enhancing prostate cancer diagnosis using calibration technology, will develop the CARE™ phantom to market readiness,

funded by a €1.6m grant from Horizon Europe’s EIC Accelerator programme.

The project will help reduce the number of MRI scans required, thereby saving money.

In addition, by improving diagnostic accuracy, the PREDICT project will act as a linchpin to promote widespread use of AI for prostate MRI, through accurate data calibration and reduced variability in scan interpretation.

This will, in turn, lead to increased early cancer detection,

saving lives and avoiding unnecessary, invasive procedures.

The experts from the European Commission stated that:

“The PREDICT project is indeed a very innovative approach in cancer detection”

and that the

“innovation could transform MRI imaging, vastly improving the accuracy of scans”

Of particular importance is that the PREDICT project is set to lower healthcare costs and ease the strain on critical resources. Thanks to this grant, that was secured with support from Ixion Innovation (, Gold Standard Phantoms will be able to accelerate market entry, creating a €20 million per annum business opportunity and making a real difference for cancer diagnosis.

The PREDICT project has a particular focus on Prostate cancer, the most common non-cutaneous cancer in men, and the third most common cause of cancer death. Prostate cancer biopsies are both costly and invasive, so improving MRI will help reduce the number of unnecessary biopsies, thus having a massive impact on patients and healthcare in general.


Press Release in PDF: GSP - PREDICT - Press Release - 6-6-23

UCL Queen Square ION Newspost:

UCL Enterprise:

UCL Business:

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Queen Square Institute of Neurology:

IXION Innovation:

European Innovation Council:, one of the best known online publisher of UK regional business news, and their correspondent Mr. Matthew Neville featured Gold Standard Phantoms relocation to Sheffield's Sheaf Bank Business Park in an article posted on their news portal on the fifth of April 2022.

The article:

"A medical imaging spinout from University College London’s Institute of Neurology has secured office space in Sheffield’s Sheaf Bank Business Park with plans to expand in the region. Gold Standard Phantoms develops products to improve the accuracy of medical imaging devices such as MRI scanners. By using one of the company’s phantoms to calibrate readings, such as the FUNSTAR (Functional Stability Reference), MRI operators can test the stability of their system.

The company also offers a cloud data storage solution, GSP Cloud, which tracks routine quality assurance metrics and provides an overview of system performance for researchers and institutions. Professor Xavier Golay, CEO of Gold Standard Phantoms, commented:

"Sheffield benefits from a pool of highly trained technicians and engineers with skills critical to a manufacturing startup. With Sheffield’s community of universities and researchers, it is a logical place for us to expand.”

Professor Golay is chair of magnetic resonance physics and translational neuroscience at UCL’s Queen Square Institute of Neurology. A world-renowned MRI specialist with over 25 years of experience in MRI R&D, he is the author of more than 180 scientific papers and “among the most frequently cited researchers in the field”. The Sheffield office will be led by Dr Aaron Oliver-Taylor, the company’s CTO and an MRI physicist with close to 15 years experience working in MRI. He added:

“As we continue to drive forward R&D and develop new products, proximity to Sheffield’s research and innovation cluster will play an increasingly important role. The next steps for our company are building a team here in Sheffield and strengthening partnerships with regional researchers and healthcare providers.”

Link to the article at

Unit H13 Sheaf Bank Business Park
20 Prospect Road
Sheffield, South Yorkshire
S2 3EN, United Kingdom

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