Taxpayer-backed Caldera Health, which was developing a urine test to detect prostate cancer, is being wound up after a decade-long slog.

Some $16 million of shareholders' funds were spent on research and development in a 10-year effort to develop a non-invasive, low-cost test, chairman Alastair MacCormick told the Herald.

But although the R&D drive was successful in late-stage trials, companies in the US, Europe and Japan have recently made similar breakthroughs and investors decided it was not financially viable to compete.

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