Glasgow diagnostics firm raises expansion funds
Glasgow spinout Microplate Dx has closed a £2.5 million seed funding round to develop its point-of-care diagnostic platform.
Investors in this funding round include existing investors Deepbridge Capital and the University of Strathclyde in addition to new investors Scottish Enterprise, impact investor SIS Ventures and Boston-based life sciences investor Thairm Bio, in line with the company’s plans for US market entry.
With itrs product currently at prototype stage, new funding will allow Microplate Dx to continue its clinical trials in 2024/25, with a view to launching commercially across European pharmacies and exploring entry into the US market.
Spinning out from the University of Strathclyde in 2022, Microplate Dx was founded by Dr Stuart Hannah (CEO), alongside co-founders Professor Damion Corrigan (CTO), Professor Paul Hoskisson (CSO) and Dr Poonam Malik (Chair).
Based at the University of Strathclyde, the firm employs 12 staff with plans to increase headcount by 25% over the coming year.