Home > Press > NanoSight receives £920,000 in new funding round to expand their nanoparticle characterization business
|Image of the NanoSight’s latest NTA software output for LM series of nanoparticle characterization systems, showing excellent resolution of 100nm and 400nm latex particle samples.|
NanoSight Limited, the nanoparticle characterization company, is excited to announce the completion of a new round of financing which will provide £920,000 to enable the company to expand the business with the development of new products and sales channels in the US market.
NanoSight receives £920,000 in new funding round to expand their nanoparticle characterization business
Salisbury, UK | Posted on November 17th, 2008
NanoSight has just closed almost £1m of investment finance in a month that has seen unprecedented financial turmoil worldwide. Having been close to breakeven for the first half of 2008, hitting sales targets and with margins better than anticipated, it was clear to the company that growth was limited by resource but not by market opportunity. Having successfully weathered the start-up process during the past four years, NanoSight can become more robust with investment in personnel, technical support and development of the underlying technology.
CEO, Jeremy Warren, comments "I am just delighted to have closed this round at the right price and at a time when finance is becoming so much harder to obtain. We have raised more than twice the minimum we had set for ourselves, and this offers us a good degree of freedom. Our principal investment opportunities are in development of next-generation NanoSight instruments and expansion of our operations in the USA. Success to date has come from a unique technology that allows the analysis of our customers' products on a particle-by-particle basis rather than relying on an ensemble or averaged measurement. As the scope of our technology deepens, we can provide more and more information in bio-nano applications, where complexity is inherent and multi-parameter analysis addresses these needs. We have existing users directing us towards a range of molecular diagnostics applications, with eventual point-of-care use of NanoSight technology being a credible goal. Success in these areas would increase the market opportunity for NanoSight by orders of magnitude, far beyond that of particle characterization.
Our approach using Nanoparticle Tracking Analysis provides nanoscience researchers with powerful information to better design products. The systems we shall produce over the coming year will go much further in the additional independent variables they can measure, and, once again, particle-by-particle."
"The US market remains a big opportunity, despite recessional pressures. The combination of a valued technology with clear blue water developing between us and the nearest competitive technologies coupled with attractive price-points mean we are well-positioned to win orders in these difficult times."
Significant participants in this round included Bristol-based funder Rowan-Dartington and London Capital Investment Partners, a group of sophisticated individual investors and private family offices. Rowan-Dartington Chief Executive Jonathan Beatson-Hird commented "We are delighted to be co-investing with management in NanoSight, a successful British based cutting edge technology company. We believe that NanoSight's innovative product range will have wide ranging commercial applications in the growing nanoparticle market. Since 2002, Bob Carr and his team have designed and developed a number of unique and robust instruments which provide precise nanoparticle tracking analysis, filling a void which has until now been an inhibitor to the growth of this exciting market."
London Capital Investment Partners Chairman Richard Lesmoir-Gordon explained "NanoSight represents opportunity for our partners to gain direct exposure to a ground-breaking science and its commercial applications".
Scientific advisor to investors, Professor Tony Atkinson said "NanoSight's science provides a unique method of detecting and analyzing nano-particles, giving analytical data not previously available. This cutting edge technology addresses a large and growing market. The capability to detect and analyze biological nanoparticles provides the means to address a number of new markets in the diagnostic space."
About NanoSight Limited
NanoSight was formed in 2002 to develop nanoparticle detection techniques based on a suite of patents that came out of the work of its founder and current Chief Technical Officer, Bob Carr. It is now the world leading provider of a series of unique instruments for the optical detection and real time analysis of sub-micron particles that offer significant advantages compared to existing light scattering techniques.
The Company's proprietary knowledge and expertise has enabled the delivery of technologies to blue chip companies and universities for direct visualisation of individual nanoscale particles in suspension from which immediate independent quantitative estimation of particle size, size distribution and concentration can be obtained.
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