Microvisk Technologies, developer of a handheld device to monitor blood clotting in patients taking the drug warfarin, has secured £2.5 million.

Microvisk Technologies, developer of a handheld device to monitor blood clotting in patients taking the drug warfarin, has secured £2.5 million.

The money was raised through a rights issue to existing investors in a round that was oversubscribed and completed in four weeks.

Participants in the fundraising included Oxford Technology Management, Porton Capital, Midven, the Rainbow Seed Fund, Finance Wales and private investors. US-based investor New Hill Management also joined the round.

Microvisk was spun out from the Science and Technology Facilities Council, a government-backed body supporting scientific research.

Its prototype device uses sensors to work out the clotting speed of blood from a finger prick sample, displaying the results on a handheld reader.

Warfarin is used by an estimated 7 million people in the Western world. Currently, patients must have regular tests at their doctor’s surgery to ensure they receive the correct dose.