Sense Biodetection has raised $15.8m in a series A round co-led by Cambridge Innovation Capital and Earlybird to produce a diagnostic test for infectious diseases.
Sense Biodetection, a UK-based molecular diagnostic tests developer, raised £12.3m ($15.8m) in a series A round on Tuesday co-led by university-affiliated patient capital fund Cambridge Innovation Capital (CIC) and VC firm Earlybird.
Sense Biodetection is creating a range of instrument-free, point-of-care molecular diagnostic tests that it will initially use to detect infectious diseases such as influenza. Due to their nature of being single us and not requiring instruments, Sense’s tests could be deployed in any setting.
The series A capital will go towards the development and manufacture of tests for infectious diseases.
Michael Anstey, partner at CIC, said: “We are delighted to co-lead Sense’s series A financing, enabling this ambitious company to develop its pipeline of transformational products. CIC’s investment strategy is to build high-growth companies with differentiated, innovative technology within the Cambridge ecosystem, and Sense is a great example of this.”
Harry Lamble, chief executive of Sense, said: “We are delighted to secure the funding necessary to conduct the formal development of our first products.
“With the support of an exceptional new investment syndicate, Sense is positioned to become first-in-class and best-in-class in the exciting field of instrument-free molecular diagnostics and to realise our vision to transform healthcare through decentralisation.”
Mercia Asset Management previously led a £508,000 ($657,000) seed round in June 2016 that also included assorted angel investors.
