World-leading business angel syndicate investing in early-stage Scottish life sciences and technology companies.
The University of Edinburgh spin-out has secured backing to fund its first human trials.
"The BioCollector is a disruptive technology which will be transformational for liquid biopsy testing. We are confident that this platform technology can make a significant impact in this important area and, ultimately, enable cancers to be detected more quickly and accurately, enabling patients to receive precision cancer treatment as early as possible."
The investment round was led by Archangels, with co-investment from Par Equity, Techstart Ventures, and ESM Investments.
"We are very pleased to have the continued support of our seed investors who have helped us shape and scale this revolutionary business from an idea to commercial launch ready. With this latest round of investment, we are scaling up commercialisation and production of Gii. We have now successfully launched our first product, Gii-Sens, into our beachhead market of Human Diagnostic Biosensors. Ultimately, this funding round will enable us to capitalise on being first to market world-wide with high performing, cost effective, application-specific 3D Graphene Foam, enabling better products."
Scottish business angel syndicate Archangels backs Edinburgh-based Hearing Diagnostics to advance trials and prepare for a 2021 market launch.
"Our vision is for hearing tests to become as accessible and commonplace as eye tests to ensure that everyone with hearing loss receives care at the earliest possible opportunity. Investment by Archangels brings us a huge step towards achieving our vision and we are excited to work with such a highly experienced and supportive group of investors."
The funding round was led by Archangels with participation from the Scottish Investment Bank and company insiders.
"Our technology roadmap is all about empowering companies with real life insight to the risks their employees face at work. The added ability to help companies and their workers get back to work safely by helping them to maintain a safe distance from each other is another string to our bow and I’m proud of the team that has developed this facility in such a short space of time. It has caught the attention of the media and of hundreds of companies who are wrestling with the restrictions that are being placed on all of us as a consequence of the Coronavirus crisis."
The financing round was led by Archangel Investors to support ongoing Phase IIa trials for its lead antibiotic.
"There remains a desperate need for novel treatments in our armoury to treat C. difficile infections. The work that MGB Biopharma is undertaking is both important and innovative and the results that have been achieved so far have been very encouraging."
