29 Oct 2019
Cambridge Innovation Capital (CIC), the venture capital investor enabling visionaries to build global, category-leading companies in the Cambridge ecosystem, has co-led the £12.3 million Series A funding round raised by Sense Biodetection (Sense) alongside Earlybird. Sense is developing a portfolio of instrument-free, point-of-care molecular diagnostic tests, a pioneering new class of diagnostic product.
Sense plans to invest the new funds in the development and manufacture of a range of tests utilising its novel and proprietary rapid molecular amplification technology, targeting in the first instance infectious disease applications such as influenza (flu).
Instrument-free molecular diagnostics represent the ultimate flexible test format as the tests could be deployed in any setting and by a wide range of potential users. This has the potential to be transformational for the diagnostic industry, delivering for the first time, true point-of-care testing in a market-successful, single-use product format, allowing diagnostic tests to be readily adopted by new users and scaled to meet demand.
“We’re delighted to co-lead Sense’s Series A financing, enabling this ambitious company to develop its pipeline of transformational products. CIC’s investment strategy is to build high-growth companies with differentiated, innovative technology within the Cambridge ecosystem, and Sense is a great example of this.” Micheal Anstey, Partner
Harry Lamble, Chief Executive Officer of Sense, added: “We are delighted to secure the funding necessary to conduct the formal development of our first products. With the support of an exceptional new investment syndicate, Sense is positioned to become first-in-class and best-in-class in the exciting field of instrument-free molecular diagnostics and to realise our vision to transform healthcare through decentralisation.”