Bristol's FluoretiQ announces the closure of £1.1 million funding round
Press release issued: 21 February 2022
University of Bristol spin-out, FluoretiQ, has today announced the completion of a £1.1 million, pre-series A investment. Their pioneering NANOPLEX technology is a 15-minute proprietary diagnostic platform for bacterial infections.
The round was led by early-stage life science investors, Deepbridge Capital LLP, with significant participation from MAINStream, OION, SAIC and existing investors. This investment will enable the team at FluoretiQ to produce trial units of their first NANOPLEX™ product, a 15-minute UTI (urinary tract infection) diagnostic device.
Dr. Savvas Neophytou, Partner and Head of Life Sciences, Deepbridge Capital LLP. said: “FluoretiQ perfectly represents the type of highly innovative and growth-focused companies Deepbridge Capital is committed to supporting within the sector-specific Deepbridge Life Sciences EIS fund; a great example of the importance of the Enterprise Investment Scheme. Neciah has built a great team, eager to take on the significant challenge this market demands, and we are pleased to be working with them on this next exciting stage of their journey.”
FluoretiQ is developing a family of antibiotic stewardship products that identify a true and correct need for antibiotic prescription. NANOPLEX™ provides laboratory quality results, 200 times faster than laboratory analysis, helping clinicians meet their antibiotic stewardship targets. The 15-minute NANOPLEX™ assay uses glycan-based probes to find and quantify important bacterial species directly from samples. FluoretiQ’s products will be an important tool in the wake of reports showing that Antimicrobial Resistance (AMR) is growing faster than expected.
In a report prepared for the UK government in 2014** AMR was predicted to reach 10 million cases by 2050 and exceed cancer as the leading cause of death across the world. Within just 5 years, the number of directly attributable AMR deaths has increased by 181%*.
Dr. Neciah Dorh, CEO of FluoretiQ said: “Recent headlines in the LANCET also highlight the need for urgent action to get solutions to preserve the efficacy of current and future antibiotics. These funds will enable us to build cutting-edge, rapid diagnostic products that enable true antibiotic stewardship. We’re so fortunate to have a growing list of committed and visionary investors.”
Find out more about FluoretiQ here.