The funding round was backed by Moulton Goodies, Development Bank of Wales, and Acceleris.
"This investment is a significant step in the development of Reacta Biotech’s business. A combination of seeking our own MHRA approval and the recent FDA approval of the first specific food allergy therapy set to launch in the US soon, creates ideal timing for Reacta to become the only standardised and trusted OFC for all food allergy therapeutics."
The funding from the Development Bank of Wales will enable the practice to establish a new operating theatre and safeguard nine jobs.
"The new premises is still very accessible and near the local livestock market. We have renovated a bungalow for commercial use. Whilst we usually treat the animals offsite, during the lambing season it’s common for farmers to bring ewes with lambing difficulties to the practice. One of the things we are using the loan for is to convert one of the rooms into an operating theatre."
The funding round was backed by investors including Greenwood Way Capital, Kelvin Capital, and the Scottish Investment Bank.
"I am pleased to welcome our new investors to NTH at a time when the company is poised for growth. We look forward to an exciting future enabled by the support provided by both existing and new investors in this funding round."
The equity investment follows an introduction by business angel Craig Gulliford.
"People want to gain more insight into their own health in order to reach their personal best. Our results dashboard is intuitive and easy to understand so that we can empower the consumer to understand more about their own body. Results of the at-home tests are processed within 48 hours via a personalised dashboard and I am proud to say that we are the only biomarker profiling company to offer our customer a mobile app."