Oxford University spin-out raises £20M

Funding round closed

Oxford Immunotec Ltd, which is developing diagnostic tests based on its ability to measure T-cell immune responses, has raised £20 million in a fifth private funding round.

The round was led by two new investors, Clarus Ventures in the US and German-based Wellington Partners, alongside National Technology Enterprise Company. SPARK Ventures, an investor since 2003, committed a further £2 million.

SPARK Ventures’ original investment in Oxford Immunotec was made through Quester, which manages the Isis College Fund on behalf of Oxford University. Quester and SPARK merged in May 2007.

The new money will be used to prepare the ground for the US launch of Oxford Immunotec’s lead product T-SPOT.TB for diagnosing tuberculosis, and for the further development of other products based on T-SPOT technology, which makes it possible to diagnose infections and then monitor their course.