Funds of £1.5 million raised by UK-based life sciences group

May 10, 2018  Source: drugdu 197

With a view to augment business activities and help improve product outreach; a UK-based life sciences firm has raised £1.5 million.

In a statement, University of Leicester spin-out MIP Diagnostics stated that the funds raised will be used to increase team headcount, build new production units and develop products internally and market them under license. The entity is engaged in the development of nanoMIPS which have been described as nanostructured molecularly imprinted polymers. These will find use across a wide range of applications and act as substitutes for antibodies.

The funds raised will facilitate an increase in staff and augmenting the laboratory infrastructure. The firm will be able to cater to the demands of recognized high-value markets by making much-needed investments in the development of high-performance MIPs. In order to improve brand visibility and increase product visibility, licenses for the newly developed assets are intended to be provided by the company to its partners in due course of time.

By Ddu