Biofortuna Raise £1.3m Of Investment For Growth In Its Freeze Dried Molecular Diagnostics Business

Aug. 20, 2013 - PRLog -- The new funds will enable the business to expand its freeze drying analysis and manufacturing capability to support both its custom service clients and the USA launch of its SSPGo HLA range of products through Abbott Molecular. 

The funding was supported by all of the company’s current investors; the Foresight Group (UK), EV Group, Catapult Venture Managers, Merseyside Special Investment Fund, private investorsand management.

Biofortuna (http://www.biofortuna.com/) has developed a unique method to stabilise molecular diagnostic products using proprietary freeze-dried technology.  Current DNA tests are stored and transported when frozen and are required to be carefully thawed and mixed prior to the addition of patient DNA.  

Biofortuna’s unique stabilisation approach means that all reagents are premixed and freeze dried so that the end user is only required to add the patient’s DNA sample which makes the test simple, quick and easy whilst reducing cost and manual errors. Additionally the kits can be stored and transported at ambient temperature, eliminating the need for fridges, freezers and temperature controlled shipping.

The company is offering its technology, together with its design, development and manufacturing capability, on a custom service basis to clients who want to convert kits to a stabilised format and are working with a wide range of companies to give them a competitive edge in the market place.  

Biofortuna also has its own range of stabilised products, SSPGo^TM, for the transplantation, disease ID and PGx market and has partnered with Abbott Molecular as a global exclusive distributor for these kits.   

 

Dr Simon Douglas, CEO of Biofortuna (http://www.biofortuna.com/) said: “This investment will enable Biofortuna to grow its freeze dried development and manufacturing capacity.  With an increasing number of companies coming to us to stabilise their products we need to expand our freeze drying capability to complement our already established  diagnostic development expertise.  I am delighted that Biofortuna (http://www.biofortuna.com/) has received continued support from its current investors who share the enthusiasm and vision of the management team”.