MoD Spin Out
MoD SPIN-OUT RECEIVES £470K FUNDING FOR TECHNOLOGY THAT PROMISES EARLIER DETECTION OF DISEASE
ProKyma, a spin-out from the Defence Science and Technology Laboratory (Dstl), today announced a £470K funding round led by Merseyside Special Investment Fund’s Liverpool Seed Fund. The National Endowment for Science, Technology and the Arts (NESTA), Rainbow Seed Fund and ProKyma management also participated in the round.
The investment will allow ProKyma to develop its ‘Sonic Separation’ technology which uses ultrasound waves to purify and concentrate bacteria from samples like blood, faeces, soil and water, for more rapid, sensitive and accurate analysis. The ultimate objective is to concentrate and purify bacteria to allow detection in hours instead of days as is currently necessary. So far the company has proven that the ultrasound can be used to purify extremely low numbers of bacteria from complex samples such as soil or blood and allow very sensitive detection using molecular tests such as the polymerase chain reaction (PCR).
Sonic Separation has also been demonstrated to allow automated rapid analysis of blood groups for use in blood transfusion.
With the funding and support of its investors, Prokyma will be looking to develop its technology to a point where it can raise a Series A funding round. Currently based at the Diagnox Laboratory in Oxfordshire, the investment will also help ProKyma relocate to a larger space in the MerseyBio Incubator facility in Liverpool.
Liverpool Seed Fund investment manager, Mike Bakewell said: “Prokyma’s move to Liverpool highlights the region’s ability to attract businesses from some of the UK’s leading areas in technology development. We are delighted to be supporting the business and believe it has strong commercial potential.”
Commenting on their support, Jonathan Kestenbaum, CEO of NESTA said:
Damian Bond, chief executive of ProKyma, added:
Andy Tulloch, chief executive of Dstl’s commercialisation company, said “ProKyma’s move to the North West region reinforces Ploughshare’s commitment to commercialise Dstl technologies across the UK.”
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Notes to the editor:
For further information, please contact the NESTA press office on 0207 438 2608.
The Defence Science and Technology Laboratory (Dstl) is a centre of scientific excellence for the Ministry of Defence (MOD). Its 3,500 strong workforce includes some of the nation’s most talented and creative scientists with the brief to ensure that the UK Armed Forces and Government are supported in-house by the very best impartial scientific and technological advice. Dstl’s position at the heart of the MOD means that its advice is trusted by governments academia, industry and international partners. It offers timely and accurate advice at all levels of military planning and operations, both overseas and on the home front.
NESTA is the National Endowment for Science, Technology & the Arts. With endowed funds of over £300 million, our mission is to transform the UK’s capacity for innovation. We do this in three main ways: by working to build a more pervasive culture of innovation in this country; by providing innovators with access to early-stage capital; and by driving forward research into innovation, with a view to influencing policy.
The Liverpool Seed Fund
About Rainbow Seed Fund:
Ploughshare Innovations Ltd
Prokyma Technologies Ltd