Glyconics secures £1.5m in an oversubscribed funding round led by Wealth Club to fund clinical trials.
The oversubscribed raise was led by investment platform Wealth Club alongside existing backers Deepbridge Capital and Boundary Capital.
Glyconics is a medtech company developing non-invasive point-of-care diagnostic tools using infrared spectrometry. The firm is focused on creating rapid screening solutions for conditions such as diabetes.
Medical technology firm Glyconics has secured £1.5m in an oversubscribed Enterprise Investment Scheme funding round. The investment was led by Wealth Club alongside existing backers Deepbridge Capital and Boundary Capital, with participation from private angel investors.
The capital will be deployed to support a large-scale clinical trial programme for the company point-of-care diabetes screening device ahead of regulatory approval and CE marking applications. This follows recent executive appointments as the business prepares for a Series A funding round next year.
From the founder
"Glyconics offers a transformational, cost-efficient, rapid and non-invasive approach to diabetes screening – and it is testament to this pioneering device and all at Team Glyconics that this raise was so significantly over-subscribed. We are delighted to be continuing with our existing investors and, of course, welcome our new investors from Wealth Club and other private investors to the fold."
Kam Pooni
CEO at Glyconics
Investor perspective
"We were delighted to assist with key investor introductions to Glyconics for this round, and anticipate participating in further rounds through our brand new Impact Life Fund which closes at the end of March 2022"
Adrian Parton
Partner, Boundary Capital
Use of funds
- 01Fund research and development
