Microplate Dx, a Glasgow-based diagnostics technology company, raised £2.5M in seed funding to develop its point-of-care diagnostic platform for rapid antibiotic susceptibility testing.
The round saw participation from existing investors Deepbridge Capital LLP and the University of Strathclyde in addition to new investors Scottish Enterprise, SIS Ventures and Boston-based life sciences investor Thairm Bio. The company's platform can confirm the presence of bacteria and guide a doctor to effective treatment by rapidly identifying effective antibiotics to use and which ones to avoid. The funding will be used to continue clinical trials and launch the platform commercially in Europe and the US.
Microplate Dx was founded by Dr Stuart Hannah and co-founders Professor Damion Corrigan, Professor Paul Hoskisson, and Dr Poonam Malik. The company employs 12 staff and plans to increase its headcount by 25% over the coming year. UTIs are among one of the most common bacterial infections, with research estimating there are at least 92m people worldwide experiencing UTIs annually. In the UK alone, UTIs were responsible for 13.7% of all antibiotics prescribed in community practice in the NHS.
