VCs in $28m funding round for Oxford Immunotec

The round was led by Imperial Innovations Group and joined by Invesco Perpetual and existing investors including Clarus Ventures, New Leaf Venture Partners, Wellington Partners, Spark Ventures, NTEC, Kaiser Permanente Ventures and others.

Imperial Innovations invested $9.5m for a 7% stake. Invesco Perpetual invested a further $9.5m – the remaining $9m came from the existing investors. This was the fifth institutional funding round for Oxford Immunotec, which has raised a total of approximately $110m since inception in 2002.

The company will use the funding to further develop its logistics, sales and delivery infrastructure in the US.

Company
Oxford Immunotec span out of Oxford University in 2002. The business performs medical diagnosis testing. Its lead product is the T-Spot TB Test which detects tuberculosis infection in the blood.

In 2011 the company built a new lab facility in Memphis which contributed significantly to its growth in the US. Immunotec is headquartered in Oxford with US operations based in Marlborough, MA. It employs in excess of 100 staff.

People
Nigel Pitchford, managing director of healthcare investments at Innovations, will take a seat on the company's board. He previously sat on the board in 2010-11.

Advisers
Equity – Taylor Wessing (Legal).

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• Topics
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• UK / Ireland
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