Sense gets £500,000 Mercia-backing to target infectious diseases market
Oxfordshire-based molecular diagnostics company has appointed former Bank of Ireland financial services CEO Jeff Warren as its chairman
Medicine technology (medtech) business Sense Biodetection Ltd has secured £500,000 in a seed funding round led by Mercia Fund Management.
Angel investors from the Oxford Investment Opportunity Network and Angels in MedCity also participated in the round.
Based in Henley-on-Thames, Oxfordshire, Sense has developed a diagnostic tool for the infectious diseases market which is able to detect the cause behind a potential infection; therefore enabling for appropriate treatment to be administered.
Sense has said that it is primed to tap into “growing demand for point-of-care diagnostic tools” and has highlighted that the use of its tools could also “result in the appropriate use of antivirals or antibiotics to reduce their overall use”.
Compared to current diagnostic methods – which run the risk of cross-contamination – Sense’s tools are apparently more accurate, specific and can be performed whenever and wherever they are needed.
Following the funding, Sense has also announced that it has made Jeff Warren; angel investor and former CEO of the Bank of Ireland’s financial services division, as chairman.
Dr Harry Lamble, Sense CEO, believes that the investment will allow it to build upon “the already strong foundations” it has in place.
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Find out if your business would be eligible for investment from Mercia by reading our interview with its managing director Dr Mark Payton here.