PulmoBioMed, a Newcastle Upon Tyne, UK-based breath sampling technology company, raised £1.4M in funding.
The round was led by North East Venture Fund, managed by Mercia Ventures, and included Northumbria University, SFC Capital and private investors in the USA, EU and UK.
The company, which also secured a £700K grant from Innovate UK, intends to use the funds to develop a manufacturing process to scale up production and register its product in the US, and plan to relocate from the university to new premises in Newcastle city centre and create seven new jobs in the year ahead.
Led by CEO and Founder Sterghios Moschos, PulmoBioMed provides breath sampling technology that offers a non-invasive way to obtain fluid samples from the lung without contamination from fluids from the mouth. Its hand-held device, PBM-HALE, captures the breath as the patient exhales. It then separates large aerosol droplets which come from the mouth from fine droplets which come from the deep lung. Clinical studies have shown that it provided uncontaminated deep lung samples in just two minutes that helped detect and quantify lung infections and inflammation in 100% of symptomatic cases.
Commenting on the news, Sterghios Moschos said “PulmoBioMed was founded during the pandemic to address the need for reliable breath-based diagnostics. We have solved fundamental problems to enable quick and non-invasive deep lung sampling, with minimal training, and as frequently as necessary. Over 300 million asthma patients suffer slow diagnosis and millions of others are hospitalised every year with pneumonias that are impossible to diagnose with current tests. By helping clinicians understand their patient’s disease and select treatments that work, PBM-HALE has the potential to transform respiratory care.”
FinSMEs
08/02/2024