Owlstone Medical, Ltd, a Cambridge, UK-based diagnostics company, raised $7m (£4.9m) in funding.
The round was led by Medtekwiz Advisory Ltd.
The company intends to use the funds for ongoing clinical trials of the breathalyzer in lung and colon cancer screening.
Founded by Billy Boyle, CEO as a spin out of parent company Owlstone Inc.*, Owlstone Medical leverages proprietary and proven Field Asymmetric Ion Mobility Spectrometry (FAIMS) technology to develop and commercialize a breathalyzer for use in clinical diagnostics and precision medicine with applications in cancer, inflammatory and infectious disease.
FAIMS measures volatile organic compound (VOCs) metabolites in patient’s breath or bodily fluids which are specific to disease.
*Owlstone was spun out of Cambridge University in 2004 and has raised $28m in funding.
FinSMEs
28/06/2016