UK-based chemical detection technology provider Owlstone has spun out a medical diagnostics subsidiary called Owlstone Medical with a $7m funding round led by Medtekwiz Advisory.
Owlstone Medical is developing, and plans to eventually commercialise a breathalyser for use in diagnosing conditions such as cancer, inflammatory and infectious disease. The capital will support clinical trials of the breathalyser for lung and colon cancer screening.
Billy Boyle, a co-founder of Cambridge University spinout Owlstone, is CEO of Owlstone Medical. He said: “Securing this funding is further validation of our technology, and we are excited to progress our vision to revolutionize the detection and diagnosis of cancer, infectious and inflammatory diseases.
“The breathalyser we are developing provides clinicians with a highly sensitive, non-invasive diagnostic, which will enable early detection and improve patient outcomes. We are also working with pharma partners to develop non-invasive companion diagnostics to better match patients to treatment for emerging personalised therapies.”