News

Quotient Diagnostics, developer of point of care testing for diabetes and otherdiseases, has recently reported a series of commercial breakthroughs. Its Quo-Test system provides doctors with an on-the-spot reading of an indicator known as A1c, which is vital to check how well diabetics have their condition under control.

The company has now secured a further round of investment (its fifth) to enable it to expand production and accelerate distribution. Quo-Test is now selling in 14 countries in Europe, Asia and Africa.

With the rapid spread of diabetes around the world, clinicians increasingly look to A1c to help them tackle it. Quo-Test is significantly faster, cheaper and simpler to use than the alternative of sending a blood sample away for laboratory analysis. It provides a result in less than four minutes, so reducing costs and waiting times.

In view of its growing international presence, the company has looked this time to European sources of equity funding. The new partners in this ?1m round include Succ?s Europe, a venture fund in Nice, the Milan-based IAG (Italian Angels for Growth), and a Swiss investor. Quotient is the first investment outside Italy for IAG and only the second outside France for Succ?s Europe.

In recognition of this achievement, Quotient won Deal of the Year Award at the annual conference of the British Business Angels Association held at The Belfry on 8th July. The judges cited their innovative approach to cross-border funding at a time when confidence among UK investors has been hard hit.

For more information contact -

Quotient Diagnostics
Simon Harris
01932 220124 / 07976 204855
www.quotientdiagnostics.co.uk

About Quotient Diagnostics
The Quotient team combine expertise in biochemistry and instrumentation technology. They have developed a system comprising a low-cost reader and disposable cartridge for the monitoring of diabetes by clinicians at the Point of Care, i.e. in doctors? surgeries or clinics. This innovative technology, based on a fluorescence chemistry developed at St Bartholomew?s Hospital, is used to measure the percentage of haemoglobin molecules that are glycated ? a test used by clinicians to monitor the treatment of diabetes. Effective management of A1C can reduce the risk of long-term complications in diabetes. Currently most A1C tests require a patient?s blood sample to be sent away for testing at a central laboratory in a time-consuming and costly process. Quotient has employed advanced electronics and optics to develop a high precision desk-top reader which can match the performance of a laboratory instrument but delivers results to the doctor in a fraction of the time. It combines the simultaneous measurement of absorption and the phenomenon of fluorescence reduction (?quenching?) in one step. The test is performed in a small disposable cartridge which is read by a compact reader. It detects the subtle changes of fluorescence in the reagent, directly proportional to the degree of glycation in the blood sample. The signal is then converted to an A1C reading, the whole process taking about four minutes.

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.

July 13th, 2009