InvenireX, a Newcastle Upon Tyne, UK-based biotech company advancing PCR laboratory tests, raised £500k in funding.
Backers included DSW Ventures and XTX Ventures.
The company intends to use the funds to optimize the final prototype and deploy it into external R&D laboratories for further technical validation.
Founded in 2021 by Daniel Todd while studying for a PhD in DNA and nanotechnology at the University of Newcastle, InvenireX has developed a platform that incorporates AI and programmable DNA or ‘nanites’ to enable scientists to rapidly test raw material for biomarkers at minute concentrations without the need for pre-processing. It could have wide-ranging applications in early disease detection, personalised medicine and environmental monitoring.
The company is currently engaged in two proof-of-concept studies with commercial partners in the fields of agriculture and cancer detection.
FinSMEs
18/03/2024