Gemini Biomedical Ltd (United Kingdom) - Oct 2007

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01 October 2007

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Merseyside Special Investment Fund’s (MSIF) Liverpool Seed Fund has made an investment of £250,000 in health-screening company Gemini Biomedical Ltd. The deal was sourced through Liverpool Ventures, a subsidiary of MSIF that helps start-up businesses to reach a sufficient standard for investment. The financing will be used in the commercialisation of the company’s service in the UK.

Company

Gemini has developed HealthTrack, a new pharmacy-based integrated medical screening service designed to assess individuals applying for life cover and private health insurance policies. The process involves gathering basic information such as height, weight and blood pressure, and combining this with data obtained from an oral swab, which collects blood derived fluid found in the gums. The technology replaces traditional blood tests and can detect a variety of conditions including HIV and hepatitis, as well as providing indicators regarding an applicant’s lifestyle such as their drinking, smoking and drug taking habits. This information is then entered into an online database, which can be automatically updated in instances where laboratory results are required, so that it can be immediately viewed by the insurance company. Gemini has run successful trials in Dublin and the service is shortly to be rolled out across Ireland. The company was founded in 2004 and has recently relocated from Runcorn to Merseybio in Liverpool.

People

Darren Gowling and Rajesh Sharma represented MSIF, which has appointed Mark Hurley as nonexecutive director to the Gemini board. Lorna Green of Liverpool Ventures supported the company throughout the transaction process and will continue this post-investment.

Advisers

Company - Acorn Capital Partners, (Corporate Finance)Company - Halliwells, Kate Richards (Legal)Equity - Brabners Chaffe Street, Andrew O'Mahony (Legal)