A Cambridge MedTech behind a 鈥楤reath Biopsy鈥� platform which aims to diagnose disease has raised 拢22m in Series E funding.
Owlstone Medical is developing breath tests and point-of-care devices for lung cancer, liver disease and digestive disease.
These include in-human clinical trials currently underway for a screening test for the early-stage detection of lung cancer, the most common cancer killer in the world responsible for 1.8m deaths each year; further development and launch of the LIBRA test for the primary care and at-home diagnosis of chronic liver diseases, which account for over 2m deaths worldwide annually; and commercialisation of the OMED Health Breath Analyzer, a hand-held, low-cost medical device for the diagnosis and monitoring of digestive diseases that affect 1bn people globally.
The fundraise was led by Ventura Capital, joined by Aviva Ventures, Horizons Ventures and other existing investors. The close also saw completion of the investment from the Gates Foundation.
鈥淭he enormous potential of breath-based diagnostics is becoming clearer every day, with Owlstone as the main driver of progress in the space,鈥� said Mo El Husseiny, founder and managing partner at Ventura Capital.聽
鈥淥ur initial thesis has been confirmed through Owlstone鈥檚 recent partnerships with the US Department of Defence, the Gates Foundation, and the FDA. We are pleased to support their ongoing development of Breath Biopsy, which has been proven by the first products approved in-market in the US and UK.鈥�
Billy Boyle, co-founder and CEO at Owlstone Medical, added: 鈥淭estament to the power of Breath Biopsy is the continued strong support we continue to enjoy from our investors.聽
鈥淭he funds closed will enable us to progress our business to the next stage, advancing clinical trials and supporting the launch and commercialization of our pipeline of unique breath tests.鈥�