Owlstone Medical, the leader in respiratory biopsy for early disease detection and precision medicine applications, has closed its Series D round after raising £ 42million.
The new investment brings the total raised by the company founded by Billy Boyle in 2016 to over £ 109million.
The round was led by returning investor Horizons Ventures, who now sits on the board of Owlstone Medical, and was joined by other existing and prominent – but unnamed – new investors from Asia. , the Middle East and the United States.
The funding will be used to advance and commercialize IVD (in vitro diagnostic) tests for the early detection of lung cancer, diagnosis and staging of liver disease, including NASH (non-alcohol related steatohepatitis), and respiratory diseases, including asthma and COPD.
The company generates revenue by providing research products and services to leading pharmaceutical and academic organizations in the field of early detection, as well as having a strong pipeline of research-only use panels. (RUO) (for surveys).
Billy Boyle, who is also CEO of Cambridge Science Park, said: “Owlstone Medical continues to make tremendous progress, including major advancements in our respiratory biopsy platform, such as the development of EVOC probes; strong progress in our test pipeline with the launch of the RUO Respiratory Disease Panel and the publication of key study results for liver disease; and enter into a partnership with [Manchester-based clinic] Functional bowel diagnostics for the provision of clinical tests for SIBO [small intestinal bacterial overgrowth] and food intolerance.
“We are delighted to have the support of such respected investors as we strive to have a major impact on patient outcomes and the efficient delivery of healthcare resources, and we are very pleased to welcome keeping the experience and insight of Patrick Zhang of Horizons into our board. “
Mr. Zhang said, “The precise biomarkers collected non-invasively will be important screening and diagnostic tools for the future of healthcare.
“We are delighted that Owlstone Medical’s transformative respiratory biopsy technology is the basis for the development of a set of important biomarkers that could painlessly and effectively assess and protect our health. “
Owlstone’s Series C roundtable ended in October 2018. Progress over the next three years includes:
– The development of EVOC probes (exogenous volatile organic compounds) to elicit clear biological responses on the breath;
– Improvements in the platform’s ability to discover biomarkers and collect respiratory aerosols;
– The launch of the RUO respiratory diseases panel;
– The launch of digestive health tests; and
– The introduction of supporting instruments such as the Casper portable air supply.
Owlstone’s strategy remains to establish the company as the clear leader in the field of breath by deploying respiratory biopsy for early disease detection and in precision medicine.
Its goal is to save 100,000 lives and $ 1.5 billion in healthcare costs.
Owlstone says he will continue to work with leading pharmaceutical, biotech and academic groups, identifying new biomarkers in breath while aiming to “deepen his position in digestive health, supporting the vision of l ‘company in this field to help suffering patients to better control their symptoms “.