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Imperial Innovations Leads £2 Million Funding Round in Molecular Vision
Jan 25 2010 Read 701 Times
Imperial Innovations Group Plc, a leading technology commercialisation and investment company, has led a £2 million funding round in Molecular Vision, an emerging developer of quantitative point-of-care (POC) diagnostic devices. Imperial Innovations has committed £1.5 million, with Acrongenomics Inc, another existing shareholder, also participating in the round. This takes the amount of money raised by Molecular Vision to £3.2 million. Investment Manager Maina Bhaman will join Molecular Vision’s Board.
A spin-out of Imperial College London, Molecular Vision is developing a line of lowcost disposable devices for medical testing that will greatly extend the diagnostic tools available to the general practitioner. On-thespot
diagnosis could reduce the need for patients to make repeat visits, accelerate treatment, free up clinician time and lower treatment costs.
Molecular Vision’s patented technology has great potential in other markets including veterinary medicine, forensic science, environmental monitoring and military applications. The company has also entered a research collaboration project with a global cosmetic company.
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