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UK MDx Shop Biofortuna Raises $1.6M, Feb 4, 2011

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – UK molecular diagnostics firm Biofortuna said this week it has raised £1 million ($1.6 million), which it will use to develop a market for its diagnostic genotyping products and new products.

The funding is being provided by EV Tech, Catapult Venture Managers, Alliance Fund Managers, and Biofortuna's non-executive directors.

Biofortuna is developing genotyping and antibody screening tests directed at organ transplantation and management, blood banking, disease identification, microbiology, and pharmacogenomics.

Mike Bunce, CEO of Liverpool-based Biofortuna, said in a statement that the funding will allow the company to "continue to develop our groundbreaking freeze dried diagnostic kits and consolidate our position as a unique global innovator in clinical diagnostics and lyophilisation techniques."

The company raised $1.6 million in May to commercialize its in vitro PCR kits for HLA genotyping and human disease diagnosis.