Cambridge-based scale-up Owlstone Medical has raised $35 million as part of a larger $50 million funding round, the first $15 million of which was closed in March this year. The current funding deal was led by Horizons Ventures, joined by a group of strategic investors including Ventura Capital and Foxconn Technologies Group.
Owlstone Medical's product is the Breath Biopsy kit, which, the company states, allows to diagnose different diseases, including cancer, asthma, and tuberculosis. The device's sensor is based on the company's patented FAIMS technology that can rapidly monitor biomarkers from breath, urine, and other bodily fluids.
“We enjoyed particularly strong interest from Asian investors in the round, and as China is a key market for the company we are encouraged by the strategic value of these partners as we seek to accelerate entry into this market,” said Billy Boyle, co-founder and CEO at Owlstone Medical.