Sense Biodetection has raised £12.3 million to develop its portfolio of instrument-free, point-of-care molecular diagnostic tests.
The company has raised £10.5 million Series A investment co-led by Cambridge Innovation Capital (CIC) and Earlybird, with participation from Jonathan Milner and seed round investor Mercia Asset Management. Concurrent with the investment, Sense has also secured a grant of £1.8 million from Innovate UK.
The company plans to invest the new funds in the development and manufacture of a range of tests utilising its rapid molecular amplification technology, targeting in the first instance infectious disease applications such as influenza.
Sense CEO Harry Lamble 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.”
Sense’s products aims to allow rapid tests for viral and bacterial pathogens, such as those causing respiratory infections or sexually transmitted diseases, to be performed within minutes in doctors’ offices, pharmacies or community facilities. The field of molecular diagnostics is currently dominated by machine-based tests, despite the recent launch of near-patient instruments licensed for use outside of a central laboratory. The systems and procedures necessary to operate and maintain machines present barriers to their adoption at the point of care.
Rainer Christine from the health team at Earlybird said: “We believe that Sense has created a disruptive solution for true point-of-care molecular diagnostics that will bring machine-free lab-quality results within minutes, and thus health benefits to an unprecedented number of patients. At Earlybird, we continue to be impressed by the founding team's commitment to its overall vision and are very excited to be working together to ultimately improve patient outcomes.”
