The funding round was led by the Development Bank of Wales to advance first-in-human studies.
"Vaccination and treatments have reduced the impact of the virus but it is still a significant health risk. Our self-administered and cost-effective antiviral treatment stops the virus from entering and multiplying in the nasal epithelial cells, where it can then spread to the throat and then into the lungs. It is a potential game-changer in the treatment and prevention of coronaviruses, particularly with the emergence of new viruses."
The Swansea-based diagnostics firm secured £1.5m from a syndicate of investors to support product development and clinical trials.
"We’re pleased to have backed CanSense during this investment round with equity support. Their testing technology shows huge potential, with benefits for NHS backlogs if adopted widely, and we’re glad to support the work of this company as it brings its expertise to Wales’ increasingly strong med-tech sector."
The financing was supported by new investors including InnoSpark alongside returning backers such as the Development Bank of Wales.
"This is the most comprehensive validation of our platform thus far. While identifying antibodies to GPCRs has traditionally been a complex and time-intensive process requiring expensive specialist technology and training, we have demonstrated that Antiverse’s drug discovery platform can achieve this in a fraction of the time and cost. GPCRs are commercially interesting targets associated with various indications, and these antibodies offer a path to first in vivo results and can potentially be our first assets. I would like to thank our investors, this funding will enable us to continue to develop these assets in-house with our academic collaborators."
The photonics company has raised £12m in a Series A round led by Schlumberger to scale manufacturing of its greenhouse gas imaging technology.
"The technology is unique in the emissions monitoring marketplace in its potential to achieve the greatest amount of GHG abatement at the lowest cost of ownership,"
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