Award-winning University of Strathclye spinout company, Microplate Dx Limited has recently secured significant seed funding to scale-up development of its game-changing diagnostic test.
Led by Deepbridge Capital and equity investment from the University of Strathclyde's Strathclyde Inspire Entrepreneurs Fund (SIEF), the spin-out has completed an initial seed funding round of more than £500k. This is supplemented by the Stephen Young Entrepreneurship Award for investment into early stage Emerging Entrepreneurs, which is funded by a donation to the University by the Charles Huang Foundation.
“Rapid diagnosis of the appropriate antibiotic treatment avoids lengthy delays in antibiotic prescribing, meaning patients suffering a life-threatening infection can be treated straightaway when the infection first presents, and start to recover much more quickly than with conventional methods. We call this ‘personal prescribing’, and for serious infections early intervention can save lives. “This hard-won funding will enable the team to scale up development of their UTI system, accelerating timelines towards regulatory approval, clinical deployment and eventual sales. As a Strathclyde spin-out, we are especially proud to be among the first recipients of the Stephen Young entrepreneurship award.”
Ben Carter, Head of Life Sciences at Deepbridge Capital, said:
"We are delighted to join another great University spin out, with an inspiring leadership team, on their journey."
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