Bristol tech firm closes £1.1m investment round
Bristol-based healthtech firm FluoretiQ has announced the completion of a £1.1 million pre-series A investment.
The award-winning startup has developed a proprietary technology platform that cuts the time to diagnose bacterial infections from days to minutes.
The funding 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.
FluoretiQ was founded in 2017 by Dr Neciah Dorh, a University of Bristol graduate with a PhD in Electrical and Electronics Engineering.
Dr. Savvas Neophytou, Partner & 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.
Dr. Neciah Dorh is committed to finding a solution to AMR. He 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.”
Fellow Angel investor, entrepreneur and medical doctor, Dr. Leonid Shapiro commented on his decision to invest in FluoretiQ: “I was impressed with both FlouretiQ’s innovation in bacterial detection and their quest to solve a much-needed problem in managing urinary infections in our nation’s elderly.”
More information at https://www.fluoretiq.com/
