Glyconics, a UK-based medtech company, raised £1.5m in an Enterprise Investment Scheme (EIS) funding round.
The round was led by Wealth Club and existing investors Deepbridge Capital and Boundary Capital, and angel investors.
The company intends to use the funds to conduct a large-scale trial program of its point-of-care diabetes screening tool, Glyconics-SX™, prior to applying for regulatory approval and CE marking, ahead of a series A round next year.
Based in Cambridge, Norwich and Basingstoke and led by Led by Dr Kam Pooni, CEO, and Dr Päivi Paldánius, Chief Medical Officer, Glyconics is advancing a diabetes screening tool. The non-invasive handheld device exploits the use of miniaturised infra-red (IR) spectrometry for the early diagnosis of diabetes – detecting biomarker changes in a patient’s fingernail within seconds and without the need for single use plastics.