Deltadot, a developer of highly innovative enabling technologies and products for bioscience research, announced a further private funding round raising £6.0m (US$10.5 million)
Consistent with previous financings this round was fully subscribed by a combination of new investors and the continued support of current shareholders.
Major participants included existing investors FF+P Private Equity, which led the investment round, Imperial Innovations and NPI Ventures as well as new investors London Technology Fund and Sitka Health Fund VCT.
Commenting on the fundraising, Anthony Baxter, CEO said "The growth of our business is accelerating as we transition from a research and product development company into a fully fledged commercial organisation with successful products entering the marketplace and a strong development pipeline".
"The continuing loyalty of our investor base is a tremendous vote of confidence in Deltadot and we are delighted at the strong demand that we have seen from new investors of the calibre of Sitka Health Fund VCT and the London Technology Fund".
Ferghana Securities (and its affiliates in London and New York) has acted as advisors to the board of Deltadot in connection with this fundraising transaction.
The company is focused on developing and marketing cutting-edge products that will significantly enhance the drug discovery process, specifically in protein and nucleic acid analysis through the use of proprietary Label Free Intrinsic Imaging (LFIITM) technology.
This novel biomolecule detection technique, LFIITM, is derived from recent innovations in high-energy physics research and their application in modern biochemical analysis.
Unlike conventional techniques, the technology does not require target molecules to be labelled or stained and therefore enables superior data quantification, while reducing throughput times, operating costs, and potential health and safety issues associated with labelling technologies.
The proceeds of this fund-raising will be used to increase production capacity of the recently commercialised 'Peregrine' and 'Merlin' systems, develop an international sales and marketing function and enable development of further products.
The latter includes a protein folding/unfolding chip for drug discovery and QA/QC applications and a 'virtual' 2D chip to replace 2D gels.
The Peregrine Protein/Nucleic Acid analysis system and Merlin desktop DNA sequencer offer excellent sensitivity, high throughput and very low running costs, for applications which are currently among the most costly and time-consuming in drug discovery, diagnostics and biological and chemical defence markets
