Medical device developer Microvisk has raised £6 million from existing investors, bringing its total fundraising over the past 12 months to £10.5 million.
Medical device developer Microvisk has raised £6 million from existing investors, bringing its total fundraising over the past 12 months to £10.5 million.
The company, whose handheld system monitors blood clotting in patients taking the drug warfarin, has completed three fundraising rounds in the past 12 months.
Its latest round, described as a rights issue, included Porton Capital, Oxford Technology Management, New Hill, Midven, the Rainbow Seed Fund, Finance Wales and a number of private investors.
A spin-out from the Science and Technology Facilities Council, Microvisk has developed a diagnostic strip to calculate the clotting speed of blood from a finger prick sample.
The company plans to launch the device commercially in the UK this autumn and is using the new capital to continue clinical trials in the UK, expand its research facilities, and recruit new scientists and manufacturing staff.
CEO John Curtis says, ‘This funding round represents a real milestone for Microvisk as we also start to prepare for expansion into the German and US markets over the following year.’
