UK - Catapult et al. invest £1m into Probe Scientific
Catapult Venture Managers has led a £1m funding round into medical device company Probe Scientific, alongside NESTA, existing shareholders and directors.
Bedfordshire-based Probe is an i-lab based developer of medical devices. Its product, MicroEye, is a device that enables continuous blood sampling without removing whole blood. The device allows for blood glucose measurement to be faster and non-invasive.
As part of the investment, Alan Barrell will join the company's board as non-executive director, and David George will come on as chairman.
The new funding will enable the company to finalise development of the product and drive the product to market, as well as negotiate licensing deals. At the same time, the capital will be used towards developing new applications including opportunities in drug development, sports medicine and neonatal care.
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