TopCat Research Ltd, a Daresbury, UK-based company that is developing immunoassay-based diagnostic tests for the pharmaceutical, environmental and food markets, has raised £50,000 from the £25m North West Fund for Biomedical.
The company intends to use the capital to take its first diagnostic kit from R&D to prototype stage.
Launched in April 2010, TopCat is led by director Anthony Cope. Commenting on the funding, he said: “We believe immunoassay-based diagnostic tests are a growth area, and this investment will enable the company to develop its proprietary system to capitalize on this market potential”.
The North West Fund for Biomedical is run by SPARK Impact as a part of the £185m evergreen fund provided by the European Investment Bank and European Regional Development Fund to supply debt and equity funding to small and medium sized enterprises in the North West of England.