deltaDOT Raises £2.3 Million in Latest Round of Financing
News Aug 23, 2005
The round was fully subscribed and major participants included existing investors Imperial Innovations Ltd and Fleming Family & Partners (FF&P) as well as new investor NPI Ventures Ltd, the technology investment business of Nikko Principal Investments Ltd.
"We are very pleased with the continued confidence shown by our existing investors and delighted that a new investor of the calibre of NPI Ventures has recognised the value of our technologies," said Anthony Baxter, CEO of deltaDOT.
He adds, "The funds raised will enable us to bring to market the first of a truly exciting range of products with tremendous potential and value to the pharmaceutical industry."
Further he said, "Based on our proprietary Label Free Intrinsic Imaging (LFII) technology, our new Peregrine Protein/Nucleic Acid analysis system and Merlin DNA sequencer offer unrivalled sensitivity, ultra high speed throughput and very low running costs."
The proceeds will be used to finance the manufacture and commercialization of the 'Peregrine' and 'Merlin' systems.
When fully commercialised Peregrine could render 1D gels unnecessary for protein analysis and such is the potential of this exciting technology for drug discovery that pre-launch sales of both products have already been made.
deltaDOT's biomolecule detection technique, LFII, is derived from recent innovations in high-energy physics research and their application in modern biochemical analysis.
According to deltaDOT, unlike conventional techniques, the technology does not require target molecules to be labelled and therefore designed to enable superior data quantification, while reducing throughput times, operating costs, and health and safety issues.
Further financing is planned to increasing production capacity, develop an international sales and marketing function and allow development of further products, including a protein folding/unfolding chip and a 'virtual' 2D chip to replace 2D gels.