Fluidic Analytics has raised €27m for its proteomics platform
UK-based biotech startup Fluidic Analytics has raised €27m for its proteomics platform. The financing round was led by Draper Esprit, with participation from Delin Ventures, BGF, IQ Capital, and Amadeus Capital Partners.
Developed at the University of Cambridge, Fluidic Analytics’ platform is designed to give insights into the way that proteins fold, aggregate and interact by characterising them in solution – exactly as they exist in the body. The €27m in venture capital will be spent on the commercial roll-out of its lab-tools pipeline, and to further develop clinical applications of its technology. The first product on the market is the Fluidity One. The device measures the rate of diffusion of proteins under steady state laminar flow in a microfluidic system. Scientists can determine protein folding, aggregation, and degradation in a rapid, convenient workflow that consumes just microlitres of sample – and without the need for surfaces, matrices or ionisation.
Andrew Lynn, CEO of Fluidic Analytics Ltd., said: “This financing will power the global commercial launch of our Fluidity One system and enable our team to bring our next two lab-tools products to market. It will also allow us to advance a number of high-potential clinical applications that could help us make an even bigger impact on the world.”
Tim Rea, Investor at BGF, commented: “The team at Fluidic Analytics have built a potentially life-changing technology and brought their idea from concept to production in an incredibly short time. The market for pharmaceutical tools and technology is thriving and Fluidic Analytics has created products for which there is growing demand. We’re excited to be supporting the team as they scale up and take advantage of the significant opportunity to develop this critical technology further.”
Among the investors is Amadeus Partners, the investment vehicle of Austrian-born entrepreneur Hermann Hauser, an early backer of gene-sequencing company Solexa.