Roslin spin-out Wobble Genomics raises £1.2m
Andrew McNeill of Eos Advisory and Wobble’s Nicola Broughton, Richard Kuo and John Duncan
University spin-out Wobble Genomics has raised a £1.2 million in a fundraising round led by Eos Advisory.
Wobble emerged from Edinburgh’s Roslin Institute, founded by CEO Richard Kuo in April this year, and has developed a range of hardware and software tools that give scientists and clinicians a more detailed picture of underlying biology.
It is already conducting trials with some of the world’s largest RNA sequencing organisations, and the investment is supporting the expansion of the Wobble team, strengthening its Intellectual Property (IP), and will help to drive sales and demonstrate its ability to improve clinical outcomes.
St Andrews-based Eos leads the investment round alongside the University of Edinburgh’s in-house venture investment fund Old College Capital. This investment will form part of a £2.15m seed-round including a deeptech venture capital firm, and a small number of private investors.
Mr Kuo said: “There is a huge global market of scientists and clinicians who would buy our products as part of their sequencing work. On top of this, we plan to target a higher value market by leveraging our existing technologies with the overall aim of being the first global company to build a picture of disease states that are encoded in RNA.”
Andrew McNeill, Managing Partner, Eos Advisory, said: “Richard is already a globally respected researcher in RNA sequencing, and now has the ability to build a team to commercialise novel approaches that address the big issues and understanding of this exciting field of life science.”
Nicola Broughton, formerly an Investment Director at Mercia Asset Management was appointed Wobble’s chairman in July. John Duncan, founding director of Alba Equity, took up the role of finance director in April.
Wobble Genomics marks the first investment from the newly raised Eos EIS Innovation Fund, which invested alongside the Eos Syndicate.