UK, Microvisk Raises £2M in New Round of Funding
Microvisk Technologies Ltd, a St. Asaph Business Park, Wales-based developer of a patented technology for point-of-care monitoring of blood coagulation for patients taking the drug Warfarin, has raised £2m in a new round funding.
Investors in the round include Oxford Technology Management, Finance Wales, New Hill (Boston, USA), Rainbow Seed Fund, Advantage Growth Fund and undisclosed private investors.
The capital infusion will allow the company to continue product development in 2010 and launch its SmartStrip system in 2011.
The SmartStrip system is a completely solid state technology used to assess the clotting ability of patients using the drug Warfarin, currently 7 million people in the western world.
Originally a spin-out of the Science and Technology Facilities Council, Microvisk became an independent company in 2004 with initial backing from Rainbow Seed Fund.