VC firms invest $50m in Owlstone Medical
Hong Kong-based VC firm Horizons Ventures has led an additional $35m investment in a funding round for UK-based breathalyser developer Owlstone Medical.
Horizons also took part in the first phase of the funding round that was led by Aviva Ventures and closed on $15m in March. The investor has been joined by Venture Capital and Foxconn Technologies Group for this additional capital injection.
The fresh capital will be used to launch Breath Biopsy kits, which the company says will transform early cancer detection.
Previous funding
Owlstone raised $11.5m from unnamed investors in January 2017. Aviva Ventures injected a further £4m two months later.
Company
Owlstone span out of chemical detection company Owlstone in 2016. The company develops a breathalyser for the early detection of lung and colorectal cancer. Its Breath Biopsy platform is being deployed in the PAN cancer trial, a collaboration with Cancer Research UK. Owlstone is headquartered in Cambridge.
People
Horizon Ventures – Patrick Zhang (investment professional).
Owlstone Medical – Billy Boyle (CEO).
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