Date: 2014-04-29
Type of information: Series B financing round
Company: Atlas Genetics (UK)
Investors: Novartis Venture Funds (Switzerland), Consort Medical (UK), LSP - Life Sciences Partners (The Netherlands), BB Biotech Ventures (Switzerland), Johnson & Johnson Development Corporation (USA), YFM Equity Partners (UK) and private investors
Amount: £16.9 million (€20.59 million)
Funding type: series B financing round
Planned used: The final tranche of the £16.9 million Series B investment will be used to complete the transfer to manufacture of the Atlas io™ system and file for European approval of the first test for Chlamydia. The io™ system is a highly novel molecular diagnostic system for the ultra-rapid 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. In addition to deployment in hospital settings, the Atlas system will make it possible to carry out infectious disease tests in primary care clinics and GP surgeries that are as accurate as those carried out in hospital laboratories. This will enable clinicians to test and commence treatment within the same appointment and ensure much improved compliance, particularly in the area of STIs, where a significant proportion of patients fail to return for test results or follow-on treatment.
Others: * On April 29, 2014, Atlas Genetics, a diagnostic company developing ultra-rapid decentralized and point-of-care (POC) tests for a range of infectious diseases, has announced that it has completed the final tranche of its £16.9m Series B financing. The investors in this Series B financing include Novartis Venture Funds, Consort Medical plc, LSP (Life Sciences Partners), BB Biotech Ventures, Johnson & Johnson Development Corporation, YFM Equity Partners and private investors.
Therapeutic area: Diagnostic - Infectious diseases
