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Latest News: ... Latest Story Further Information: UMIP - Case Studies of Spin-outs
UPF Masterclasses: December 1st 2009 March 31st 2009 November 25th 2008 UPF Masterclass Hall of Fame |
05/08/10 MTI Investee APATECH wins prestigious Large Deal of the Year award at 2010 Vitesse Media Awards 24/05/10 UPF increases investment in Arvia Technology 12/05/10 UPF Invests in University of Manchester med-tech spin-out, BiOxyDyn 28/04/10 UPF leads £1.15m investment round in PowerOasis 01/03/10 MTI has largest ever exit by selling investee company APATECH for $330m 22/02/10 Ai2 Limited announce appointment of new CEO 18/02/10 Nano ePrint partners with Novalia to deliver printed electronic greeting cards for Tigerprint 03/02/10 UPF leads £2m investment round to help bring new pest control products to market 23/01/10 UPF investee MYCONOSTICA launches Pneumocystis diagnostic kit in Europe and Canada 22/01/10 14/01/10 NWDA awards £9m Transitional fund to MTI 30/11/09 MTI & NWDA boosts Manchester hi-tech spin-out 13/11/09 Award winning week for the UMIP Premier Fund’s investments 26/10/09 22/10/09 UPF Invests half a million in CABLESENSE - North West hi-tech specialists back Lancaster busines 07/09/09 UPF Investee MYCONOSTICA attracts £1.7m in Series D financing to progress its fungal diagnostics 05/09/09 UPF Investee ARVIA TECHNOLOGY named in Global Cleantech 100 company listing 05/09/09 ‘Proud parents’ celebrate 25th birthday of breakthrough technology 09/07/09 UPF Investee ARVIA TECHNOLOGY wins major North West Innovation award 29/06/09 UMIP scoops Business Impact Award 19/03/09 Breakthrough research by University student could speed up the recovery of injured athletes. |
UPF Investee Myconostica Ltd, a UK-based medical diagnostic company developing and commercialising rapid and highly specific tests for life-threatening fungal infections, today announces that it attracted £1.7m in the first close of its series D investment round. The funds will be used to launch additional molecular diagnostic products and extend the real-time PCR platforms Myconostica’s tests are able to operate on. The company shortly plans to launch a test to identify Aspergillus infections, a major cause of mortality in leukaemia and transplant patients and a rapid identification system for fungi found in blood.
Using MycAssayTMPneumocystis in conjunction with Myconostica’s DNA extraction system, MycXtra®, a result can be obtained in under 3 hours. Myconostica, formed in 2006 as a spin out from the University of Manchester has since attracted a global venture capital investor base, and is developing and commercialising tests based on highly specific genetic ‘signatures’ unique to each disease and allow faster and much more precise identification. These molecular diagnostics tests are simple, rapid and can detect multiple fungi in a single process. Myconostica has a strong portfolio of tests and intellectual property to support its future growth. The market opportunity for molecular diagnostic testing is rising at >7% annually. The annual potential test numbers estimated in the USA, EU and Japan for Myconostica’s current and forthcoming products exceed 6 million annually, when the market is fully developed. Myconostica would also like to announce the appointments of Dr. Kai Deusch and John Rousseau to the Board. Dr. Deusch, a former Professor of Internal Medicine at Technical University Munich, founded Medicis and is its Managing General Partner. He has more than twenty years professional experience in the Healthcare & Life Science Sector. Following 12 years of clinical and research activities he joined McKinsey & Company’s Pharma Healthcare Practice and later became a Director at Apax Partners. Subsequently, he was one of the founding investors & CEO of a buy-out in the Medtech Sector based in Switzerland and the USA and with his current fund he has been investing primarily growth opportunities in the MedTech and Diagnostic market. Dr. Deusch received his medical education at the University of Minnesota, Harvard Medical School, the Universities of London (U.K.), Mainz and Munich (Germany). Mr. Rousseau, a co-founder and Managing General Partner of Nexus, has been investing in healthcare companies for many years. Prior to his business career, Mr. Rousseau practiced law for fifteen years and was a Senior Partner at the Boston-based law firm of Hale and Dorr. He holds a B.A. from Amherst College, and a J.D. from Columbia Law School. Dr David Holbrook, MedTech Partner at MTI (managers of the UMIP Premier Fund) and Chairman of Myconostica, commented: |
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