A Birmingham-based firm has secured £800,000 to support development of its technology used for point-of-care diagnostics.
Linear Diagnostics, which was founded in 2011 by Tim Dafforn and Matt Hicks as a spin-out from the University of Birmingham, has received the capital from the Midlands Engine Investment Fund, University of Birmingham, UKI2S Fund and UK Future Fund.
Its technology is used to detect the presence of molecules in solutions and its product is helping to diagnose sexually transmitted infections which often show little or no symptoms.
BusinessLive is your home for business news from around the country – and you can stay in touch with all the latest news through our email alerts.
You can sign up to receive daily morning news bulletins from every region we cover and to weekly email bulletins covering key economic sectors from manufacturing to technology and enterprise. And we’ll send out breaking news alerts for any stories we think you can’t miss.
Visit our email preference centre to sign up to all the latest news from BusinessLive.
Chairman and chief executive Brendan Farrell said: “We are very grateful to our existing investors for their continued support and to the UK Future Fund for providing matched funding.
“The funds received will enable Linear Diagnostics to develop a prototype single use cartridge and reader for our duplex test for chlamydia and gonorrhoea.”
Roger Wood, director at Midven which manages part of the Midlands Engine Investment Fund, added: “The requirement for rapid and accurate point of care diagnostics has been brought into sharp focus by the covid-19 pandemic.
“There are many other disease areas that could equally benefit from this approach and Linear Diagnostics is making excellent progress with the development of its testing platform.
“This funding round will enable the company to continue its good work at pace.”