Last month Kelvin Capital, the company's original investors, together with Scottish Investment Bank, made a further investment of £1.5 million in Biotangents, following the previous investment of £0.5 million completed in April last year.
This led the company to invent (patent-pending) Moduleic Sensing™, a diagnostic technology using modular cell-free nucleic acid detection that has the potential to be used across multiple sectors including human healthcare and environmental monitoring.
Recognising the challenges faced by the livestock industry, Biotangents chose to implement Moduleic Sensing™ in the livestock infectious diseases market.
Biotangents was founded in 2015 by Dr Andy Hall-Ponselè (Director of Operations) and Lina Gasiūnaitė (Director of Science) to apply their expertise in gene technologies to improve the sustainability of traditional industries.
Alan Hale joined as CEO in November 2016, and following the first investment raise in December 2017 led by Kelvin Capital, the company has double its team size, developed the board and filed its first patent application.
Biotangents has built partnerships for evaluating products for the diagnostics laboratory and veterinary practices in the UK and China, established a thorough commercialisation strategy and delivery plan, further Moduleic Sensing™, and evaluated a second-generation version of the technology.
Source: Young Company Finance Scotland