Atlas Diagnostics, a UK-based company specialising in medical diagnostic tests for infectious diseases, has closed the final tranche of its £16.9m ($28.6m) series B round.
Investors in the round included healthcare corporate venturing units Novartis Venture Funds and Johnson & Johnson Development Corporation, medical device producer Consort Medical, Life Sciences Partners, BB Biotech Ventures, YFM Equity Partners and additional private investors.
Atlas will use the funding to commercialise its Atlas io system, which tests for both sexually transmitted infections and hospital acquired infections, and to secure European approval for its use in chlamydia testing. Atlas io, which uses electrochemical sensor technology, can be used to test for diseases in primary care clinics and general practitioners’ surgeries.
John Clarkson, chief executive of Atlas, said: “We have made tremendous progress in the development of the io system since the initial series B investment in July 2011 and we look forward to gaining regulatory approval for our first product, a Chlamydia test, around the end of this year.”
Atlas previously secured £1.5m ($2.5m) in a February 2011 series A round funded by Consort and other, undisclosed investors.