Oxford Immunotec Raises $28M in Equity Financing
Oxford Immunotec, a Oxford, UK-based medical diagnostic company developing tests in the fields of infectious and immunological disease, has raised $28m in equity financing.
The round was led by new investors Imperial Innovations and Invesco Perpetual, with participation from existing shareholders Clarus, New Leaf, DFJ Esprit, Wellington, SPARK Ventures, the Dow Chemical Company, NTEC, Kaiser Permanente Ventures and the University of Oxford.
The company intends to use the funding to expand sales and marketing efforts for its lead product, the T-SPOT®.TB test for diagnosing latent TB infection, as well as to develop and commercialize new products focused on infectious and immunological disease.
Founded in 2002 and led by CEO Dr. Peter Wrighton-Smith, Oxford Immunotec is developing novel new tests in the fields of infectious and immunological disease based primarily on its patented T-SPOT® technology, a FDA-approved method for directly quantifying antigen-specific T cells.
Its primary product, the T-SPOT.TB test, is an Interferon-gamma release assay (IGRAs) which detects latent TB infection.
As well as developing & selling tests in kit form, the company also runs a testing laboratory business in both the US and the UK (Oxford Diagnostic Laboratories).
It has US operation in Marlborough, MA.