Owlstone Medical Ltd, a Cambridge, England, UK-based diagnostics company developing a breathalyzer for disease, raised $11.55m (approx. £9.3m) in funding.
The round, which follows the original investment of $7m (£4.9m) in June 2016, was led by existing investors.
The company intends to use the funds to commercially launch its breath biomarker R&D services, including the opening of a new high volume clinical facility, and to fund ongoing clinical trials in lung and colon cancer screening.
Led by Billy Boyle, co-founder and CEO, Owlstone Medical is leveraging proprietary and proven Field Asymmetric Ion Mobility Spectrometry (FAIMS) technology in its disease breathalyzer product range. FAIMS measures volatile organic compound (VOC) metabolites in patient’s breath or bodily fluids which are specific to disease. Measurement of VOC biomarkers allows non-invasive diagnosis of disease at a very early stage, to enable more effective treatment and better patient outcomes.
FinSMEs
06/01/2017