Atlas Genetics to get second investment
Bristol-based Atlas Genetics will get a second investment – worth up to £16.9m – from Consort Medical.
Consort Medical – which already owns a 19 per cent stake in Atlas – said its recent investment has been supplemented by a consortium of new investors.
The consortium, which includes Novartis Venture Funds, an unnamed 'major healthcare company', BB Biotech Ventures, LSP (Life Science Partners) and Consort Medical, will invest up to a maximum of £16.9m over three years.
Jon Glenn, chief executive officer at Consort Medical, said: "We are delighted to be joined by a new consortium as co-investors in Atlas. The investment will de-risk Atlas by providing sufficient funds to develop the core technology, invest in capital equipment, undertake clinical studies and broaden the range of tests available."
According to Consort, the new investment will accelerate the global launch of its Atlas Genetics's current product for Chlamydia and Gonorrhoea. And the investment will also be used to develop the Velox testing system so it can detect hospital acquired infections and meningitis.
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The Hopkins group originally designed the website www.iwantthekit.org to track new and recurrent infections by providing private, confidential testing for Chlamydia trachomatis, Neisseria gonorrhoeae and Trichomonas vaginalis.
In addition, our upcoming PANTHER launch further supports our confidence in future growth from Chlamydia and gonorrhea testing even as competition increases. To wrap up our discussion of clinical diagnostics sales in the second quarter,
According to Consort, the new investment will accelerate the global launch of its Atlas Genetics's current product for Chlamydia and Gonorrhoea. And the investment will also be used to develop the Velox testing system so it can detect hospital acquired
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