Owlstone Medical Ltd, a Cambridge, England, UK-based diagnostics company developing a breathalyzer for disease, raised $15m (£11 million) in funding.
The round was co-led by Horizons Ventures, the private investment arm of Mr. Li Ka-shing, and current investor Aviva Ventures, the venture capital arm of Aviva plc, a global leader in insurance, with participation from existing backers.
The funds will enable the company to bring its lung cancer Breath Biopsy test to market, deepen the early detection pipeline with ongoing trials across multiple cancers, and further grow its existing precision medicine services to the pharmaceutical industry.
Led by Billy Boyle, co-founder and CEO, Owlstone Medical is advancing the Breath Biopsy platform for early detection and precision medicine, with applications in cancer and a wide range of other conditions.
The platform is currently being evaluated in the world’s largest breath-based clinical trials for two of the most common cancer killers globally – lung and colorectal cancer. It is also being used in the PAN cancer trial, a collaboration with Cancer Research UK which is studying the early detection of eight different cancer types in breath.