UK-based molecular diagnostics technology provider Atlas Genetics raised $20m today in a series C round that included pharmaceutical firms Novartis, Johnson & Johnson and Consort Medical.
Novartis and Johnson & Johnson, which invested through respective corporate venturing units Novartis Venture Funds and Johnson & Johnson Innovation, and Consort were joined by RMI Partners, LSP, BB Biotech Ventures and South West Ventures Fund.
Atlas develops diagnostic tests for infectious diseases based on electrochemical sensor technology. The funding will be used to accelerate the launch of its diagnostics system, begin clinical trials in the US and expand the range of tests available for the system.
The company plans to particularly increase its focus on sexually transmitted infections and hospital acquired infections.
Novartis, Johnson & Johnson, Consort, LSP, BB Biotech and YFM Equity Partners previously contributed to a $25m series B round raised by Atlas in April 2014. It has now raised approximately $51m since it was founded.
Atlas chief executive John Clarkson said: “The funds raised will enable us to commercialise our io(R) system and to build out a programme of much needed ‘test and treat’ assays in markets where time really does matter, both for the physician and for the patient.”