Crescent Diagnostics Ltd, a Dublin and Limerick, Ireland-based developer of novel tests for predicting osteoporotic fracture risk, recently raised €1.5m ($2.2m) in Series A funding.
Investors include the AIB Seed Capital Fund, co-managed by Enterprise Equity Venture Capital, the Bank of Ireland Seed Fund, managed by Kernel Capital, and existing venture investor Seroba BioVentures.
The funds will be used to run additional clinical trials and to advance BQT® to regulatory approval in both the US and EU.
Developed at the University of Limerick, BQT® is a predictive test for the disease, which is designed to enable physicians to diagnose the risk of osteoporosis-related fracture using a small nail clipping.
In conjunction with the funding, Enterprise Equity partner Eric Reed joined the company’s board of directors.
The company is led by CEO Ernie Poku.