Owlstone Medical secures £42m Series D funding led by Horizons Ventures
The oversubscribed financing round will support the commercialisation of proprietary breath biopsy tests.
Owlstone Medical develops breath-based diagnostics using its proprietary Breath Biopsy platform for applications in early disease detection and precision medicine.
Cambridge-based Owlstone Medical has secured £42m in an oversubscribed Series D financing round led by Horizons Ventures, with participation from existing and new global investors. The company exceeded its initial target of $50m by closing $58m in total funding. The capital will be deployed to accelerate platform development and commercialise proprietary diagnostic tests targeting conditions including lung cancer, liver disease, respiratory illness, and digestive health.
The raise brings the total funding accumulated by Owlstone Medical to over £109m since its establishment in 2016. Horizons Ventures, a returning backer, has secured a seat on the company board following the investment.
From the founder
"We are thrilled to have the support of such highly respected investors as we strive to have a major impact on patient outcomes and the efficient delivery of healthcare resources and are very pleased to now welcome the experience and insight of Horizons’ Patrick Zhang to our Board."
Billy Boyle
co-founder and CEO at Owlstone Medical
Investor perspective
"Accurate biomarkers collected non-invasively will be important screening and diagnostic tools for the future of healthcare. We are excited that Owlstone Medical’s transformative Breath Biopsy technology will be the basis for development of a set of important biomarkers that could gauge and safeguard our health painlessly and effectively."
Patrick Zhang
Investor, Horizons Ventures
Use of funds
- 01Continue product development
- 02Fund research and development
Investors
Categories
About the company
Owlstone Medical
Owlstone Medical provides breath biopsy technology for early disease detection and precision medicine.