Lab901, the Edinburgh-based developer and manufacturer of automation systems for the life-science industry, has raised GBP2.4 million in equity funding.
The fund comes from Lab901's consortium of UK investors, comprising Archangel Informal Investment, Alliance Trust Equity Partners (ATEP), Scottish Enterprise SVF, Foresight 3 VCT and Tricapital.
Lab901 will use the money to expand international sales of its Screentape laboratory analysis platform and further develop its product range.
This automated platform replaces manual analysis of bio-molecules (Proteins, DNA and RNA), giving faster results and enabling better decision making.
It is used for infectious disease testing - including screening for swine flu - in the molecular diagnostics market.
Lab901 also launched two versions of Screentape for Protein and RNA analysis, targeting the global market for biomedical research in pharmaceutical companies, universities and research institutes.
