Sense BioInspection Secures £12.3M Series A Funding to Advance Instrument-Free Point-of-Care Molecular Diagnostics

On October 29, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that molecular diagnostics company Sense BioInspection announced the completion of a £12.3 million Series A financing round. The round was co-led by Earlybird Venture Capital and Cambridge Innovation Capital, with participation from Mercia Asset Management and Jonathan Milner.

It is reported that Sense BioInspection is developing a series of instrument-free, point-of-care molecular diagnostic tests, a groundbreaking new class of diagnostic products. The company plans to leverage its novel and proprietary rapid molecular amplification technology to invest the proceeds from this funding round into the development and manufacturing of a portfolio of tests, initially targeting infectious diseases such as influenza.

Instrument-free molecular diagnostics represent the ultimate and most versatile form of testing, as it can be performed in any setting by a wide range of potential users. This has the potential to revolutionize the diagnostics industry, with diagnostic tests for the first time being offered as single-use products that deliver true point-of-care testing, enabling new users to quickly adopt them to meet personalized needs.

Mike Anstey, Partner at Cambridge Innovation Capital, stated: “We are delighted to co-lead Sense Bioinspection’s Series A financing round, enabling this ambitious company to develop its transformative products. Cambridge Innovation Capital’s investment strategy is to build high-growth companies with differentiated innovative technologies within the Cambridge ecosystem, and Sense Bioinspection is a prime example.”

Harry Lamble, CEO of Sense Bioinspection, added, “We are delighted to have secured the necessary funding for the development of our first products. With the support of an outstanding new investor group, Sense Bioinspection will become a leading enterprise in the field of instrument-free molecular diagnostics, realizing our vision of transforming healthcare through decentralization.”

Cambridge Innovation Capital is a venture capital firm focused on technology and life sciences businesses with rich intellectual property within the Cambridge ecosystem. Cambridge Innovation Capital is committed to building leading companies through exceptional technology.

Earlybird Venture Capital is a venture capital firm focused on European technology companies. Established in 1997, the firm invests across all stages of company growth and development. As one of the most experienced venture investors in Europe, Earlybird Venture Capital provides its portfolio companies not only with financial resources but also strategic and operational support, as well as access to international networks and capital markets. Earlybird Venture Capital manages various funds, focusing on digital technology and medical technology in both Eastern and Western Europe. As one of the most successful venture capital firms in Europe, it manages over €1 billion in assets and has supported seven successful IPOs and 23 transactions.

Mercia Asset Management invests in four distinct asset classes: venture capital, private equity, equity investments, and debt investments, which we refer to as the “Complete Capital Solution.”

(Compiled by Xiong Hui)