The financing round includes contributions from Deepbridge Capital, Scottish Enterprise, SIS Ventures, Thairm Bio, and the University of Strathclyde to support clinical trials and commercial expansion.
"Our mission at Microplate Dx is to improve the quality of lives for patients by providing antimicrobial stewardship cost-effectively. Any delay in identifying the correct antibiotic for treatment can put lives at risks and huge pressure on clinical decision making, especially when the antibiotic sensitivity data that Microplate Dx can produce in an hour or less compared to the current approach that can take two days using existing techniques."
Northstar Ventures and Par Equity co-led the investment round to support international expansion and US regulatory clearance.
"I’d like to thank Manus’ existing investors for supporting the Company’s commercialisation programme of our unique NeuroMotor PenTM , building on previous support we received in 2021. This year is set to be an exciting one, with partnerships already secured, and we truly believe our non-invasive and CE-marked product can have a huge impact on patients and tackle the unmet need for a quick, inexpensive device that can detect neurological conditions, particularly given the ageing global population."
Yield Lab Europe led the pre-Series A round, which will fund international expansion and team growth.
"We’ve spent the past 18 months developing our platform and validating peptide candidates with expert third parties and commercial partners. We’re really excited by the results and feel that we’re ready to take the next step towards commercialising our technology. With the issue of food security, and effective crop protection becoming an increasingly pressing issue for the agriculture industry and governments worldwide, there is an urgent need for sustainable environmentally-friendly alternatives to current synthetic pesticides. We’re confident that our technology provides the solution and has the potential to make a huge impact."
The funding round was backed by a group of existing investors alongside a grant from the European Innovation Council.
"This is a very significant funding milestone in our mission to detect cancer early and improve survival and quality of life for patients. Having demonstrated our multi-cancer capability, we can now focus on building the pipeline of organ-specific tests, beginning with a multi-center study to gain regulatory approval for the brain cancer test. We will also expand our data on colorectal cancer, one of the leading causes of death worldwide, and continue our work on collaborative projects."
The funding was led by The Conduit Impact Fund alongside participation from SIS Ventures, Equity Gap, Old College Capital and Scottish Enterprise.
"Our process is championing the circular economy and the investment we have secured will be transformational in helping MiAlgae scale quickly both locally and abroad."
