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Startup Fuse Diagnostics Raises £1.6M in Seed Funding for Molecular Testing System

NEW YORK – Startup Fuse Diagnostics announced Wednesday that it has raised £1.6 million ($2.0 million) from angel investors and Innovate UK.

The seed investment will support the Cambridge, UK-based company's development of two rapid, low-cost, point-of-need molecular testing systems, according to a statement.

Fuse's Flip system is intended for industrial, food, and water testing and for use in bioprocessing and cell biology research, while its Apex system is for advanced industrial testing, veterinary applications, and clinical diagnostics such as tests for respiratory or sexually transmitted infections, the firm said.

"We are bringing gold-standard laboratory performance into small, low-cost, disposable tests that anyone can use, with results in under 10 minutes, thanks to our proprietary ultra-rapid amplification chemistries," Fuse Diagnostics CEO Harry Lamble said in a statement.

Fuse was cofounded by brothers Harry and Ralph Lamble following last year's acquisition of their previous company, Sense Biodetection, and its rapid, instrument-free Veros molecular testing system by Sherlock Biosciences for an undisclosed amount.