Mologic raises £3m from Calculus Capital

Greg Gille
@unquotenews
29 October 2015

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Calculus Capital has invested £3m in Bedford-based Mologic, a developer of point-of-care diagnostic devices.

Calculus stated it was attracted by both Mologic's products and its management team, which includes the co-inventor of the Clear Blue pregnancy test. Mologic will use the fresh funding to start commercialising its products, conduct clinical trials and obtain CE regulatory approval in Europe.

This marks the second investment in the space of a few days for Calculus, which also backed Cambridge-based IPV with a £2.5m investment. The VC is also currently seeking to raise up to £8m through a new share offer for the Calculus VCT it manages.

Company
Founded in 2003, Mologic develops point-of-care diagnostic devices designed to help patients manage their own conditions. It is notably focusing on a system for patients with respiratory problems to use in their own home. Mologic is aiming for its first products to reach market-readiness over the next three years, starting in the first half of 2016.

Mologic is based in Bedford and employs 34 people.

People
Susan McDonald represented Calculus on the deal.