Sensortec Ltd Raises Funds From The Sale Of Agricultural Testing Business.
Its biosensor subsidiary, renamed Vantix Ltd, benefits from the investment.
Richard Wardle, Chairman of Sensortec, commented: "The management buyout of Cawood is the start of an exciting new chapter for both companies. It gives Cawood the opportunity to continue its expansion and Sensortec the ability to bring a series of new products to market via its biosensor business, Universal Sensors Ltd, which itself is growing rapidly.
"The investment from this transaction will support further development of a series of new product platforms, including the VantixTM Point-of-Care for medical diagnostics and the VantixTM Mobile system for the detection of hospital superbugs, funded in part through the Department of Health's Small Business Research Initiative. Universal Sensors will be launching a series of new Vantix products throughout 2011 – including a rapid portable test for the detection of antibiotics in animal feed for the growing agritech mobile testing market."
As part of the focus on the commercialisation of its products, the Company also announced that it is has changed the name of its biosensor business from Universal Sensors to Vantix Ltd, bringing together the branding of the company with that of its products.
Notes to Editor
About Vantix Ltd
Vantix Limited has developed a biosensor platform for the detection of a range of contaminants, toxins and disease markers in complex aqueous based samples. The VantixTM biosensors are sensitive, fast and versatile so that they can be used with existing assays and automated in a range of product platforms. We focus on developing product systems which move tests out of the laboratory and to the point-of-care or point-of-use.
The VantixTM product range includes: a laboratory research instrument (Vantix Research) for the development of new methods, a table-top Point-of-Care system in development for use in hospitals and in the community (VantixTM Point-of-Care)
Vantix Ltd enters into collaborations and partnerships to apply its platform technology in vertical markets. Vantix Limited is a subsidiary of the Sensortec Group and leads the development and commercialisation of the Sensortec IP in future generations of diagnostic and analytical devices.
Unit 4 Abbey Barns, Duxford Road,
Ickleton, Cambridgeshire CB10 1SX
t: +44 (0)1799 533 160
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Vantix designs and manufactures biosensors that are sensitive, fast and versatile. Its unique Vantix biosensor technology allows tests that traditionally take several hours of laboratory time to be performed in minutes.