Skip to main content
Premium Trial:

Request an Annual Quote

LIG Biowise Raises £1.8M in Series A Funding

NEW YORK (GenomeWeb) – LIG Biowise, a UK firm developing point-of-care molecular diagnostics to help combat antimicrobial resistance, has raised £1.8 million ($2.5 million) in a Series A funding round.

The round was led by Phoenix Bridge, a venture capital investor based in Hong Kong, and also included private investors.

The company said it will use the funds to continue developing an "ultra-rapid" point-of-care diagnostic device and initial tests for respiratory tract diseases. The platform combines DNA extraction, amplification, and detection into a single step in order to potentially yield faster test turn around, lower cost, and higher diagnostic accuracy.

"These new funds allow us to progress development, and we will be conducting our first proof of concept clinical studies … [focused] on applying our system to the accurate diagnosis of upper respiratory tract infections, where over-prescription of unnecessary antibiotics is a significant issue that is linked to the global rise of antimicrobial resistance," LIG Biowise General Manager Alex Sheppard said in a statement.