Biofortuna Raises £2.1M in Funding
Biofortuna Limited, a Bromborough, UK-based biomedical company, recently raised £2.1m in funding.
Backers include the Foresight Group (UK), which put put in £1.25m, The Merseyside Loan and Equity Fund (MSIF), EV’s Rising Stars Growth Fund (RSGF), Catapult Growth Fund, the management and other private investors.
The company intends to use the capital to grow the business by gaining regulatory approval in the USA, expanding its product line and penetrating new markets.
Established in 2008 with funding from MSIF through its Liverpool Seed Fund, and led by CEO Simon Douglas, Biofortuna has developed novel in-vitro molecular diagnostic (IVD) products for the transplantation and pharmacogenetic markets.
The company uses specialist freeze drying technology which stabilizes the components in the kits allowing them to be shipped more easily. Biofortuna’s products can be shipped in the post, stored at room temperature and, as all reagents are included pre-mixed, the user only needs to add the DNA sample – significantly reducing complexity and cost. To date, the company has 17 SSPGo™ HLA genotyping kits targeted at the transplantation, disease association and companion diagnostic markets.
Biofortuna is hiring (http://www.biofortuna.com/index.php/jobs/).
27/05/2010: Biofortuna Raises £1.1M from EV Tech and Catapult Venture Managers