Buyer sought for Oxford Biosensors

Investment opportunity

After failing to find a buyer, Oxford University spin-out Oxford Biosensors has gone into administration and the administrators are now seeking to sell the company as a whole, or to divest certain technologies.

The company has developed technology for point-of-care electro chemical testing for lipids and other analytes, for use in cholesterol, diabetes and renal function testing. The lead product is a lipid diagnostic panel designed for monitoring cardiac risk and the impact of therapy. Testing can be undertaken in the doctor’s office in about 5 minutes with results comparable to those performed in a clinical laboratory. This product is now being finalised for FDA approval and launch.

Initial feasibility studies on other products for metabolic conditions, diabetes and renal function have been completed. The development of the technology, however, has proved more costly and complex than originally anticipated and the existing investors are no longer willing to finance the company to bring its products to market.   

Since its formation in 2000, Oxford Biosensors has raised approximately £18 million in equity, grants and partnership revenues.

Funding was withdrawn in April and although discussions regarding a possible sale of the business and assets are ongoing with a number of potential purchasers, the company has sought protection via administration while sale opportunities are explored.  

The company operates from a research and development facility at Yarnton, Oxford. Expressions of interest are urgently being sought from parties wishing to acquire the business and assets either in part or as a whole.

Oxford Biosensors was formed in 2000 based on novel technology from the University of Oxford. The company has a management team with significant experience in designing, developing and bringing new diagnostic/technology products to the market. Oxford Biosensors has a purpose-built development and pilot manufacturing facility situated near Oxford.

The technology consists of multi-analyte, electrochemical sensors in a strip form for use with a small, hand-held analyser. A drop of blood is placed on a test strip where the system separates out the plasma. Using microfluidics, the plasma is channelled through to the reaction chambers where it dissolves the analyte specific reagents. Using the analyser and electrochemical detection system, the quantity of the analyte is measured and displayed on screen, all in about 5 minutes for the complete lipid panel (total cholesterol, HDL, LDL and triglycerides).

Further information from Roland Cramp at the administrators Edward Symmons, email: [email protected]