Series A2 March 2022

MIP Diagnostics secures £7.3m in follow-on investment from Mercia and other backers

The oversubscribed funding round includes participation from Mercia Asset Management, Calculus Capital, Downing Ventures, and BGF.

£7.3MSeries A

MIP Diagnostics is a nanotechnology business based in Bedfordshire that develops and manufactures synthetic antibodies known as nanoMIPs. These nanoscale polymers serve as robust alternatives to traditional antibodies for use in diagnostic devices and biosensors.

MIP Diagnostics has secured £7.3m in a follow-on funding round led by Mercia Asset Management, Calculus Capital, Downing Ventures, BGF, and an original angel investor. The capital injection follows the successful achievement of strategic milestones and the industrialisation of the company technology. The oversubscribed round will support the ongoing expansion of the business and the commercialisation of its synthetic antibodies.

The Bedfordshire-based enterprise has seen strong demand for its molecularly imprinted polymers, which offer enhanced stability compared with biological equivalents. Existing backers increased their holdings following commercial traction with blue-chip customers over the preceding eighteen months.

From the founder

"We are delighted that our investors have emphatically and unanimously backed our vision to become leaders in next generation affinity reagents following the achievement of the key milestones we set together 18 months ago. We will continue to bring highly talented and experienced people to the business at all levels to accelerate our growth. This will be delivered by completing the industrialisation of our technology in targeted applications and bringing exciting new products to market to address unmet needs with high performance customer-centric solutions, which in turn will drive market adoption."

Stephane Argivier

CEO at MIP Diagnostics