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3 February 2015

Biofortuna Ltd closes a £1.5m funding round

Biofortuna Ltd, the UK based molecular diagnostics company specialising in its proprietary freeze dried diagnostics and contract services, announces raising £1.5m in its latest funding round.

The £1.5m funding was supported by all the company’s current investors; Foresight VCTs, Catapult Ventures, Enterprise Ventures, MSIF, private investors and management.

The new funding is for Biofortuna to develop a portfolio of new molecular diagnostic assays with the aim of providing easy to use, one step diagnostics that address complex genotyping issues. In addition, the company will invest further in its freeze drying production capability and capacity to meet the forecast growth of its already successful contract development and manufacturing service.

Biofortuna Ltd is a leader in freeze drying and stabilisation of molecular diagnostic assays. It offers a contract IVD development and production service in its FDA and ISO13485 approved facilities to companies looking to convert liquid tests into freeze dried kits, and delivering simple one step protocols. It also has a number of its own freeze dried molecular diagnostic products targeted at the transplantation, disease identification and pharmacogenetic markets.

Dr Simon Douglas, Biofortuna CEO, said: “The new investment will be used to increase the portfolio of tests currently offered by Biofortuna. The new funds and confidence of all of our investors shows the potential of Biofortuna as a leading diagnostic kit provider as well as a world class contract service manufacturer.”