NEW YORK — British molecular assay startup Biofidelity said today that it has raised £750,000 ($906,555) in seed funding.
Investors include UK-based Longwell Ventures, as well as an undisclosed multinational diagnostics firm and private investors.
Biofidelity, founded earlier this year, is developing a technology for the detection of low-frequency genetic mutations for diagnostic applications in areas including cancer and prenatal testing.
"Our proprietary chemistry offers an entirely new and simple approach for detecting very small quantities of mutant DNA within a sample," Biofidelity CEO Barnaby Balmforth said in a statement. "The method allows us to significantly exceed the current limitations of detection without requiring DNA sequencing or complex bioinformatics, presenting exciting opportunities in the world of patient monitoring and screening, and precision treatment."