Foresight et al invest £2.1m in Biofortuna

New investor Foresight commited £1.25m. The remaining money was put up by existing investors, including Catapult Ventures, which had backed the company with £1.1m in 2010.

The investment will be used to expand manufacturing facilities and the firm's product range and to gain access to US markets.

Company
Biofortuna was founded in 2008 in Liverpool with the backing of the Merseyside Loan and Equity Fund (MSIF). It is also supported by the EV's Rising Stars Growth Fund (RSGF) and private investors.

The company produces a range of molecular diagnostic products that are based on freeze-dried technology.

It focuses on DNA testing in the transplantation market where its customers include healthcare company Abbott.

As part of its planned expansion Biofortuna aims to address companion diagnostics, antibody screening and disease identification.

People
James Livingston is investment director at Foresight.

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