Stratophase's biochemical measurement and detection technology has secured the business in excess of GBP2 million in contracts and international private investment over the last year.
Multiple collaborative projects have enabled the company to continue to take steps towards commercialisation.
By 2012, the market for chemical sensors is forecast to be worth USD5bn in the US alone, with the biosensor sector continuing to be the largest.
Emerging technologies such as optical sensors are forecast to show the fastest growth.
Technical advances that enable miniaturisation and increase cost efficiency, such as the ones being made by Stratophase, will drive market penetration by making high-precision measurements more accessible to users.
The Stratophase technology, Spectrosens, is a biochemical sensor that uses optical microchips.
The sensors are capable of detecting all classes of biological targets including proteins, toxins, viruses and bacteria, as well as measuring changes in the chemical composition of liquids.
The highly accurate and robust measurement and detection technique has earned the company scientific and commercial credibility, and significant contracts.
In June 2008, Stratophase received GBP800,000 from East Hill Management, a Boston- based venture capitalist.
It also completed UK Government Technology Strategy Board and Home Office contracts, which developed a sensing system for the detection of biological binding events and the compositional measurement of liquid chemicals.
A further Technology Strategy Board-funded project was kicked off in 2008, with the aim of developing a portable direct immunoassay diagnosis device for animals and humans.
The project aims to produce a field-deployable foot and mouth detector.
Stratophase was announced as a key contractor on a high-profile UK Ministry of Defence contract, designed to develop technical capability and fill a current procurement gap.
The GBP4m project to develop a prototype system for portable integrated battlespace biological detection technology is expected to lead to the procurement of battlespace deployable systems that significantly improve the MOD's bio-threat detection capabilities.
Over the last year, Stratophase has significantly grown its in-house capabilities, continuing to advance its integrated optical chip development and production activities, as well as upgrading its bio-assay development facility.
It has also recruited additional team members.
