News release

Cutting-Edge Medical Imaging Startup Comes to Sheffield


30 March, 2022

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, it was announced today. 

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. 


“Sheffield benefits from a pool of highly trained technicians and engineers with skills critical to a manufacturing startup,” said Prof Xavier Golay, CEO of Gold Standard Phantoms and one of the company’s founders. “With Sheffield’s community of universities and researchers, it is a logical place for us to expand.”


Prof 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.


“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,” said Dr Oliver-Taylor. “The next steps for our company are building a team here in Sheffield and strengthening partnerships with regional researchers and healthcare providers.”


Gold Standard Phantoms is part of the P4 SY Accelerator Programme, which identified the property working closely with Business Sheffield. A part of the ERDF-funded TEAM SY project, delivered in partnership with Capital Enterprise and Barnsley Council, P4 SY supports up to 30 companies in the South Yorkshire region to focus on bringing breakthrough health and medtech products to market. The six month programme will help these companies achieve key milestones in their development, with the goal of securing outside investment and building lasting partnerships within the region.


“I’m very happy we could help Gold Standard Phantoms find a space at Sheaf Bank Business Park,” said Nathan McNally, Health & Life Science Director at Capital Enterprise. “We continue to see a high level of talent and ambition in the companies accepted onto our programmes. The P4 SY’s cohort is no exception and Gold Standard Phantoms is just one example of how these companies are bringing innovation and investment to the South Yorkshire region.”


Diana Buckley, Director of Economic Development and Culture at Sheffield City Council, said: “As the home of a growing cluster of startups and high tech businesses, Sheffield will make a fantastic base for Gold Standard Phantoms, and we encourage any other entrepreneurs looking for a home in the region to get in touch.”