Lein Applied Diagnostics Limited, a Reading, Berkshire, UK developer of non-invasive optical measurement technology, has raised £1m from the the UMIP Premier Fund, managed by MTI, and the National Endowment for Science, Technology and the Arts (NESTA).
Now, Lein has allowed a window of 30 days for a number of business angels to invest alongside UPF and NESTA.
The company is developing an innovative confocal scanning technique in which a low power beam of light is shone into the eye, and the reflected light used to evaluate the health of the individual.
A key application is the non-invasive measurement of the blood glucose levels in people with diabetes, a procedure currently performed by patients taking a pin prick of blood 3-4 times a day.
Other significant applications include optometry and pharmacokinetics.
The new funding will enable the company to miniaturise its technology as explained by Dan Daly, co-founder and director, who said: “This funding will allow us to build on our successes to date and implement and validate our technology in its hand-held form”.
In addition, Lein will undertake further clinical work on blood glucose monitoring, building on studies already undertaken at The Royal Berkshire Hospital.
FinSMEs
29/10/2009