Atlas Genetics, a Bath, UK-based diagnostic company that provides tests for infectious diseases, raised £16.9m in Series B funding.
Backers included Novartis Venture Funds, Consort Medical plc, Life Sciences Partners, BB Biotech Ventures, Johnson & Johnson Development Corp. and YFM Equity Partners.
The company intends to use the funds to complete the transfer to manufacture of the Atlas io™ system and file for European approval of the first test for Chlamydia.
Led by Dr John Clarkson, Chief Executive Officer, Atlas Genetics develops rapid decentralized and point-of-care (POC) tests for a range of infectious diseases. Its io™ system is a highly novel molecular diagnostic system for the diagnosis of a broad range of infectious diseases including Sexually Transmitted Infections (STIs) and Hospital Acquired Infections (HAIs).
It is based on a patent-protected electrochemical sensor technology that combines speed and accuracy, and removes any requirement for costly optical components.
FinSMEs
29/05/2014