The Norwich tech company behind a 15-minute test for COVID-19 has been backed with 拢2 million investment.听
Iceni Diagnostics expects results from trials of its rapid lateral flow test听–听which works with nose听and throat swabs or saliva –听imminently听
Resembling a pregnancy test in appearance,听it identifies听sugar molecules called glycans, which the virus needs to hook on to when infecting cells.听
As each virus requires a听different glycan or method of obtaining one, they can be identified.听The Iceni test听can detect the presence of COVID-19 as well as influenza, which has similar symptoms.听
It features three lines which can light up in red.听The first shows that the test has worked; the second听if a strain of听flu听is present; and听the third if听the person听has听coronavirus.听
Iceni Diagnostics, which听was formed to听develop carbohydrate-based therapeutics and point-of-care diagnostics for infectious diseases, is in advanced discussions with public sector and commercial buyers in the UK and the US, including Public Health England.听听
拢1.3听million听of seed capital from听35 angel and local enterprise investors听has been made available, rising to a听total confirmed commitment of up to 拢2 million payable in 2021. The firm will听build听out听commercial infrastructure and听expand听its听senior team.听
鈥淭here’s a vast, global potential in the application of our unique technology,鈥� said co-founder听Prof Rob Field.听听
鈥淲e are using it to tackle COVID now, but it will also produce better vaccines and new diagnostic and therapeutic products in the future.听听
鈥淭he investment we have secured will enable us to attract new talent to the team at Iceni and maximise the significant opportunities we have in our pipeline.”听
Investors include听public sector co-investment fund听New Anglia Capital and members of Anglia Capital Group.听听
Director of Anglia Capital Group听Andrea Finegan said: 鈥淭his was an opportunity to invest in a company with real potential to grow and to make an impact on therapeutics and diagnostics for a series of infectious diseases.鈥澨�