Nanotechnology Now

Our NanoNews Digest Sponsors





Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > Press > QuantuMDx closes $8.42m investment round for prototyping handheld MDx device

Abstract:
Handheld molecular diagnostics device pioneer QuantuMDx Group announced it had closed an $8.42m funding round it syndicated with philanthropist private investors and the University of Newcastle upon Tyne following the recent publicity success of its Indiegogo crowdfunding campaign.

QuantuMDx closes $8.42m investment round for prototyping handheld MDx device

Newcastle, UK | Posted on June 2nd, 2014

The funds will be used to further optimize and trial Q-POC™, QuantuMDx's handheld DNA sequencing & genotyping device, in addition to extending the Company's assay pipeline, expanding its research teams and appointing an Advisory Board.

Elaine Warburton CEO and Co-Founder says "2014 will be an immensely exciting year for QuantuMDx as we demonstrate, in real-time, our ability to undertake 15 minute sample-to-result analysis for complex molecular diagnostics. Later this year when we formally unveil our prototype, we anticipate much interest from Life Science and Pharma companies seeking a low cost, high quality POC platform for diagnostics and to support drug development. Furthermore, we're now looking to appoint a number of high quality, commercially minded but fun people onto our research team and also a number of key opinion leaders onto our Advisory Board."

"Most of the basic research was completed last year and we moved into an engineering phase to integrate these technologies and chemistries at the beginning of this year. We are now moving into the testing phase of our alpha prototype," says Jonathan O'Halloran, CSO, inventor and Co-Founder. "Excitingly, we envisage these devices to be readily distributed globally due to their low cost, fast turn-around times and referral standard testing. With networked devices all over the world we will have a platform to monitor emerging pathogens and drug resistance hotspots in real-time; a concept we like to call the Internet of Life™".

Field trials will commence early 2015 for Q-POC™'s first assays in malaria speciation/drug resistance, in partnership with NGOs and hospitals in several African countries, and a companion diagnostic for warfarin within the UK's National Health Service, in anticipation of a commercial launch later in 2015.

####

About QuantuMDx Group
QuantuMDx Group is one of the most exciting biotechs to emerge from the UK and is developing a low cost, simple-to-use, handheld laboratory for 15-minute diagnosis of disease at the patient’s side, for commercialisation in 2015. The robust device, which reads and sequences DNA and converts it into binary code using a tiny computer chip, is ideally suited to help address the humanitarian health burden by offering molecular diagnostics at a fraction of the price of traditional testing.

Rapidly & accurately detecting and monitoring emerging drug resistance of infectious diseases such as malaria, TB and HIV will enable health professionals to immediately prescribe the most effective drug against that disease. Once the device has passed regulatory approval, it will be available in developed countries for infectious disease testing and rapid cancer profiling and, in time, be available over-the-counter at pharmacies.

Headquartered at The International Centre for Life in Newcastle, UK with subsidiaries in the USA (Chattanooga) and Asia (A*Star’s Genome Institute of Singapore), QuantuMDx was co-founded by Elaine Warburton, inventor and CSO Jonathan O’Halloran and CFO Julian Warburton. Fellow Board members include CMO Professor Sir John Burn, COO Dr Sam Whitehouse and President of QuantuMDx USA Paul Fitzpatrick. Prof Sanjeev Krishna chairs the Infectious Disease Advisory Committee.

QuantuMDx has received numerous awards for innovation and is the recipient of a number of large grants from The UK’s Technology Strategy Board (TB diagnostic), The Biomedical Catalyst Fund (tumour profiler), NHS NIHR’s Invention for Innovation Program (DNA sequencer) and the European Union (“NanoMal” malaria diagnostic).

For more information, please click here

Contacts:
Maggie Love
Business Development and Marketing Executive
QuantuMDx Group Limited
Mob: + 44 (0) 7584 504 327
Office: + 44 (0) 870 803 1234

Copyright © QuantuMDx Group

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Nano Ruffles in Brain Matter: Freiburg researchers decipher the role of nanostructures around brain cells in central nervous system function October 31st, 2014

Gold nanoparticle chains confine light to the nanoscale October 31st, 2014

'Nanomotor lithography' answers call for affordable, simpler device manufacturing October 31st, 2014

Device invented at Johns Hopkins provides up-close look at cancer on the move: Microscopic view of metastasis could give insight about how to keep cancer in check October 31st, 2014

VC/Funding/Angel financing/Loans/Leases/Crowdfunding

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

7th Nanotechnology Festival, Exhibition Kicks Off Work in Iran October 7th, 2014

Harris & Harris Group Letter to Shareholders on Website August 19th, 2014

Harris & Harris Group to Host Conference Call on Second-Quarter 2014 Financial Results on August 15, 2014 August 12th, 2014

Investments/IPO's/Splits

TARA Biosystems and Harris & Harris Group Form Company to Improve Safety and Efficacy of New Therapies October 22nd, 2014

Arrowhead Issues Open Letter to Shareholders October 9th, 2014

PEN Inc. Announces New Trading Symbol: PENC: Stock Continues Trading on the OTCQB September 3rd, 2014

Aspen Aerogels, Inc. to Present at Barclays CEO Energy-Power Conference August 27th, 2014

Nanomedicine

Nano Ruffles in Brain Matter: Freiburg researchers decipher the role of nanostructures around brain cells in central nervous system function October 31st, 2014

Production of Biocompatible Polymers in Iran October 30th, 2014

Amorphous Coordination Polymer Particles as alternative to classical nanoplatforms for nanomedicine October 30th, 2014

'Electronic skin' could improve early breast cancer detection October 29th, 2014

Announcements

Nano Ruffles in Brain Matter: Freiburg researchers decipher the role of nanostructures around brain cells in central nervous system function October 31st, 2014

Gold nanoparticle chains confine light to the nanoscale October 31st, 2014

'Nanomotor lithography' answers call for affordable, simpler device manufacturing October 31st, 2014

Device invented at Johns Hopkins provides up-close look at cancer on the move: Microscopic view of metastasis could give insight about how to keep cancer in check October 31st, 2014

NanoNews-Digest
The latest news from around the world, FREE





  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More














ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE