Gold Standard Phantoms (GSP), a 2014 spin-out of the UCL Institute of Neurology based in Sheffield, makes MRI phantoms: objects with known properties scanned to calibrate machines so that measurements are consistent across scanners and over time. It was selected in the EIC Accelerator's October 2022 cut-off for PREDICT, "PRostate cancer Enhanced Diagnosis by Calibration Technology". In June 2023 UCL reported that a €1.6 million grant would develop GSP's CARE phantom, scanned together with the patient, to market readiness, according to UCL.
No project for GSP appears on CORDIS, the EU's register of funded projects. The PREDICT clinical study, sponsored by GSP with University College London Hospitals and others, lists an Innovate UK grant number as its funding, started recruiting on 26 June 2026 and plans 66 patients, with primary completion estimated for December 2026, according to ClinicalTrials.gov. GSP now markets its prostate calibration platform as METRION. Its 2025 accounts show net assets of £909,044 and cash of £87,487, according to Companies House.
Company file
- Legal entity
- Gold Standard Phantoms Limited, 09342804, Sheffield
- Origin
- UCL Institute of Neurology spin-out, 2014
- Products
- METRION (formerly CARE) prostate MRI calibration; VERIFLUX; other phantoms
- Clinical study
- PREDICT, NCT06607783, with UCLH and Bioxydyn
- Investor named
- Proven Connect (2025)
- Staff
- 11 average in 2025
- EIC funding
- Grant only
Where Gold Standard Phantoms Stands Now
In October 2025 GSP presented METRION at the launch of a prostate cancer screening report in the UK Parliament, after an investment by Proven Connect to support its rollout, according to its news page. In March 2026 it allotted new shares, Xavier Golay ceased to be a person with significant control and a director was replaced, the register shows. It also received a "Made in Sheffield" licence in January 2026.
"The company's METRION platform introduces real-time calibration of MRI scans, ensuring that quantitative biomarkers, such as the Apparent Diffusion Coefficient (ADC), are consistent across scanners, hospitals, and timepoints."
Gold Standard Phantoms, October 2025The Technology: A Reference Scanned With the Patient
Every MRI scanner differs slightly, so the same tumour can produce different measurements on different machines. GSP embeds a small reference object in the scan, and its software uses it to correct the measurements, for example the apparent diffusion coefficient used to judge prostate lesions. Consistent measurements are also needed before AI tools can be trusted across hospitals, the company argues.
What the EIC Award Promised, and What the Record Shows
The award promised to bring the CARE phantom to market readiness for prostate diagnosis. Without a CORDIS project, there is no EU record of the budget, milestones or results. The clinical study that would provide evidence only started recruiting in mid-2026, and results are not expected before 2027. Whether PREDICT was funded by the EU or, as the trial registry indicates, by Innovate UK is not explained publicly.
- Product developmentPartialMETRION marketed.
- Clinical validationStartedRecruiting since June 2026.
- EU project reportingMissingNo CORDIS entry.
- Financial strengthWeak£87k cash, 2025.
The Money
GSP announced a £300,000 grant for a metabolic MRI project in August 2024 and a £150,000 UK-Switzerland grant in November 2024. Its accounts are filed under the small-company regime and do not show revenue. It had net assets below £1 million and cash under £100,000 at the end of 2025, and issued new shares in March 2026; the amount raised is not stated.
What Cannot Be Checked
Questions for the EIC
Whether PREDICT was paid by the EIC or by Innovate UK, how much was paid, why no project record exists, and what the March 2026 share issue raised are not public.
Why Europe Should Care
Former UK prime minister Rishi Sunak called MRI a "game changer" for prostate cancer screening at the event GSP attended, and consistent measurements across scanners matter for screening and AI. GSP's calibration technology addresses that. The public record of the EIC-selected project is thin, and the company's own finances are thinner.
What the award promised
A market-ready embedded phantom and calibration software to improve prostate MRI diagnosis.
What the record shows
A renamed product, a clinical study begun in 2026, no EU project record and £87,000 in cash.
The Verdict
Slow, and hard to trace
Gold Standard Phantoms is still gathering the clinical evidence the EIC-selected project was meant to deliver. How the award was funded and spent cannot be traced in public records.
Gold Standard Phantoms and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.
