Microvisk Technologies, a St Asaph Business Park, Wales, UK-based developer of a handheld system to monitor the blood clotting status of patients taking the drug Warfarin, has raised £2.5m in funding.
The round included investment from Oxford Technology Management, Porton Capital, New Hill, Midven, the Rainbow Seed Fund, Finance Wales and private investors.
In January 2010, the company raised £2m.
Microvisk, a spin-out from the Science and Technology Facilities Council, is developing a medical diagnostic strip – SmartStrip® – based on a Micro-Electro-Mechanical System (MEMS). Originally created as a movement system for nano-robots the system enables patients to test their blood clotting ability at home, in the same way as diabetics test for glucose.
Microvisk will use the new capital to finalize product development and start the testing necessary to secure regulatory approval in Europe and the US.
The company is to launch the SmartStrip® system onto the market in 2011.