Oxford Technology & Innovations EIS Fund (OTIF) and co-investors participate in Cambridge company Biofidelity Ltd’s £17.3m Series A+ financing
- Biofidelity has closed a £17.3m Series A+ funding round led by led by Octopus Ventures and SBI Investment Co Ltd.
- The capital will be used to commercialise Biofidelity’s ASPYRE technology, a high sensitivity molecular diagnostic platform and the first assay for high sensitivity diagnosis of non-small-cell-lung-cancer. This is will include launch in North America.
- The funding will also be used to expand and validate Biofidelity’s technology platform on other key oncology applications where access to high sensitivity precision diagnostics is key to improving outcomes.
Oxford Investment Consultants LLP (OIC) is pleased to announce that the Oxford Technology & Innovations EIS Fund (OTIF) and its co-investors have subscribed to the £17.3m Series A+ round of existing portfolio company Biofidelity Ltd.
Biofidelity has developed a unique molecular diagnostic platform to target cancer applications where access to more accurate clinically actionable results represent a key barrier to more consistent and effective treatment outcomes. The ASPYRE technology can offer rapid, low-cost access to highly sensitive results via conventional lab protocols using conventional lab infrastructure. This unique set of benefits gives Biofidelity the potential to characterise disease years before incumbent molecular diagnostic tests, and at a fraction of the cost and time of the less commonly utilised genetic sequencing applications.
The oversubscribed round was led by the UK’s Octopus Ventures and one of Japan’s leading VC firms, SBI Investments, together with continued support from the existing shareholder group including OTIF, Longwall Ventures and BlueYard Capital, amongst others.
Further information on OIC, OTIF and Biofidelity can be found at
https://www.oxfordinvestmentconsultants.com/ and https://biofidelity.com/