A new molecular diagnostics company, LIG Biowise, has just closed a £1.8M Series A fundraising round in its effort to combat antimicrobial resistance.
Based in Manchester, LIG Biowise, is working on a DNA-based diagnostic to catch antibiotic resistant infections early. The company has now closed a Series A of £1.8M (€2.0M), led by Hong Kong-based Phoenix Bridge, to fund the development of a ultra-rapid point-of-care molecular diagnostic for infectious respiratory diseases. The technology relies on combining DNA extraction, amplification and detection in a single step to catch infections quickly, accurately and for a lower cost.
Diagnostics are becoming big business in the face of the antimicrobial resistance crisis, as a result of which as many as 10 million people may be killed by 2050. Fortunately, technology in the field is really taking off: Another British biotech, Oxford Nanopore, made headlines last week when it published that its pocket DNA sequencer designed for diagnostic purposes had sequenced the human genome. Meanwhile, liquid biopsies are already well-established in cancer diagnosis.
Image via Kateryna Kon