Funding
Seraphim Capital Fund and Oxford Capital Partners have invested a further £1.2 million in Sirigen to advance the development of its light amplification technology for use in the diagnostics. The round follows the £2 million invested in April 2008.
Sirigen uses light harvesting polymers to amplify the signal in a wide range of instrumentation and detection platforms across the diagnostics and life sciences industries.
The technology can enhance the sensitivity of tests and diagnostic assays by up to 100 fold. It is being applied by biomedical companies to both optimise existing assays and to develop new diagnostics.
The current round of investment has been completed following the achievement of certain predetermined technical and commercial milestones.
With the core technology now fully developed, Siragen has recently made commercial agreements with three diagnostics companies. The latest round of funding will enable the company to optimise its production methods to deliver customer-specific applications.
Nick Kerton, CEO of Sirigen said, “In the last few months we have successfully hit all our milestones, overcoming the key remaining technical hurdles. We are already working with some of the world’s leading diagnostic companies who view our technology as being integral part of to their future growth.”
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