Lab21, a Cambridge, UK-based global specialist in personalized medicine and clinical diagnostics, has received a £5m financing package from Clydesdale Bank.
The company intends to use the funding to expand its GMP manufacturing capability and its international sales channel particularly into the US.
Lab21 provides diagnostic products and services for companion diagnostics in personalized medicine, blood bank screening and other clinical diagnostics. Customers include major pharmaceutical companies, other diagnostic manufacturers, clinical laboratories and biotechnology companies.
It operates across two divisions:
– a clinical laboratories division which develops molecular diagnostic services for patients, clinicians and the pharmaceutical industry in oncology and infectious diseases, and
– a diagnostic products division which develops and manufactures a range of infectious disease tests including malaria, Chagas, syphilis and cytomegalovirus (CMV), which are sold globally for use in the screening of blood supplies.
The company also has a base in Greenville, South Carolina and other manufacturing facilities in Newmarket, Camberley and Bridport.