Microvisk Technologies Raises £6M in Third Funding Round
Published On January 27, 2011 |
Microvisk Technologies, a St Asaph, Denbighshire, UK-based developer of a handheld system to monitor the blood clotting status of patients taking the drug Warfarin, has raised £6m in a third funding round.
The round included investment from Porton Capital, Oxford Technology Management, New Hill, Midven, the Rainbow Seed Fund, Finance Wales and other private investors.
In 2010, Microvisk raised £4.5m.
The company intends to use the funds to continue clinical trials in the UK, expand its research and manufacturing facilities and recruite additional scientists and manufacturing staff.
Led by CEO John Curtis, Microvisk has developed a medical diagnostic strip based on a Micro-Electro-Mechanical System (MEMS), which enables patients to test their blood clotting capacity at home.
Microvisk expects to launch its Smartstrip® device onto the UK market this autumn. The company is also preparing to commence trials in the USA and Germany within the next six months, with product launches in both countries anticipated to follow in 2012.