Biofortuna receives follow-on funding of £1m

A MOLECULAR diagnostic company based in Liverpool has secured follow-on funding from EV Tech – part of North West-based venture capital firm EV.

The funding has been made via the RisingStars Growth Fund and is part of a £1m package that includes contributions from Catapult Venture Managers, Alliance Fund Managers and Biofportuna’s non-executive directors.

Biofortuna carries out diagnostic tests that help to improve success rates in organ transplants by assessing whether organs will be a suitable match for patients. It plans to use the money to develop the range of genotyping products it offers.

Mike Bunce, CEO of Biofortuna Limited, said: “Biofortuna is very pleased to continue working with our investors EV, Catapult, Liverpool Seed Fund and our external investors.

“This further investment will enable us to continue to develop our ground breaking freeze- dried diagnostic kits and consolidate our position as a unique global innovator in clinical diagnostics and lyophilisation techniques.”

Mark Hurley, Chairman of Biofortuna Limited, said: “We have seen Biofortuna make outstanding progress in the last year, and this latest investment clearly demonstrates that the Board’s confidence and enthusiasm is shared by our external investors.”

The investors were advised on the deal by Eversheds and the company was advised by Hill Dickinson.

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