News

Atlas Genetics Ltd, which develops tests for infectious diseases, has secured financing of ?535,000, including participation from London Business Angels. The company has also recently been awarded a grant of ?100,000 from the South West Regional Development Agency.

Many common infections are expensive and difficult to diagnose, and can only be detected by complex laboratory tests that take many days to complete. To overcome this problem, Atlas has developed a unique point-of-care diagnostic system for rapid (20 minute), inexpensive and accurate diagnosis. The first product will be for chlamydia, followed by an expanding range of tests, including other STDs, hospital acquired infections and high value veterinary tests. The intellectual property is protected by granted patents and applications, and all members of the experienced management team have worked previously in commercial healthcare and medical diagnostics businesses. The funding will be used to transfer the current prototype to a high volume manufacturing process.

For more information contact -

Atlas Genetics
John Clarkson, CEO
www.atlasgenetics.com

London Business Angels
Chris Padfield, Investment Manager
chris@lbangels.co.uk
www.lbangels.co.uk

About London Business Angels
The London Business Angel network comprises an exclusive and experienced membership of 130 influential business leaders from the south of England, offering a total of ?50 million for investment. GLE Group is a leading provider of equity, loan, cashflow and asset finance. The GLE Group also delivers business development, international trade, property and consulting services. We create value through investment and by providing innovative and commercial approaches to economic growth successfully maximising the potential of people and businesses. GLE Group incorporates YFM Group, the most active equity investor in the UK. Together, we are a leading provider of equity finance with ?330m under management, investing from ?100,000 up to ?8 million in growing businesses throughout the UK.

September 30th, 2009