£2.5m fundraise will help research into malaria cures

RESEARCH and development specialists Arcis Biotechnology says it has raised £2.5m in an oversubscribed fundraise, supported by existing shareholders and new investors.

Now valued at circa £15m, the company based at Daresbury in Cheshire will continue to commercialise its ground-breaking R&D-led portfolio of products, including its novel malaria diagnostic which is intended to help detect the disease quickly, in its very early stages, and at a low cost.

Peter Whitehurst, chief executive of Arcis Biotechnology, said: “It’s testament to the success of Arcis Biotechnology to date and our future pipeline of technology platforms and products that this latest funding round was oversubscribed by both existing and new investors.

“We’re extremely pleased that our lead investor, Calculus Capital EIS Fund, who has supported us since 2012 in previous fundraising rounds, has increased its stake in the business, while also welcoming new investors onto our exciting journey.

“With strong research and commercialisation teams already in place and a great pipeline of products, we’re in a unique position to capitalise on both current and future market opportunities in the molecular diagnostics sector.‎”

Arcis Biotechnology specialises in developing novel solutions for biotechnology applications across multiple sectors, including molecular diagnostics, forensics, agriculture and advanced hygiene.