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AssayMetrics completes second funding round

Cardiff Medicentre's biotech startup AssayMetrics, whose revolutionary new product speeds up drug development, has secured an undisclosed second-round equity investment from Finance Wales.

AssayMetrics launched its laser-based fluorescence plate reader in early 2011 and the device has already attracted significant interest from a number of global pharmaceutical companies and other high-profile customers.

AssayMetrics secures new investment from Finance Wales.

AssayMetrics’ second investment round to commercialise drug discovery technology.


Commentary

Dr Mark Bowman, Director of Innovation at Cardiff Medicentre said "As a former venture capital investor, I was delighted to see AssayMetrics secure further funding."

He added "This capital injection will be vital for building on the company's recent commercial successes."

For all Cardiff Medicentre media enquiries, please contact:

Carina Phillips
T: 07815 058283
E:carinaphillips@ntlworld.com

Notes to editors

About Cardiff Medicentre

Cardiff Medicentre is a dedicated incubator for biotech and medtech startups. The facility is set in the grounds of the University of Wales Hospital and is a neighbour to Cardiff University’s School of Medicine.

Established in 1992, Cardiff Medicentre is a joint venture between Cardiff Council, Cardiff University, the Welsh Government and Cardiff & Vale University Health Board. It was the first incubator of its kind in the UK and now provides 32 units of high quality office and lab space accommodation ranging from 284 sq ft to 1,045 sq ft. Low-cost desk leasing facilities are also available to encourage entrepreneurs to enter the Cardiff Medicentre community while writing business plans and raising finance.

Tenants at Cardiff Medicentre benefit from specialist support in establishing and growing their businesses. Their aim, and the aim of the Cardiff Medicentre management team, is graduation – the process of tenant businesses outgrowing the incubation facilities and moving into their own follow-on space, or being acquired.

Examples of successful graduate companies

  • Q Chip Ltd (completed $6 million venture capital investment round in 2011)
  • Cardiff Bioanalytical Services Ltd (acquired by LGC Ltd in 2010)
  • Cardiff Research Consortium (acquired by Capita Group plc for £11.6 million in 2009)
  • BioDynamics Research Ltd (acquired by Quotient BioResearch Ltd in 2008)
  • TrichoTech Ltd (acquired by Concateno plc for £11.25 million in 2007)
  • OnExamination Ltd (acquired by BMJ Group in 2007)

Published on Tue, 9th Aug 2011

 
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