Sittingbourne-based Vivacta has raised a further £6m in financing to fund the launch of its highly sensitive Point of Care (PoC) immunoassay system, based on its patented piezofilm sensor technology.
Vivacta’s CEO Neil Butler said, ‘We were pleased to have the deal co-led by two very strong European Venture Capital firms, AGF Private Equity and HBM BioVentures. Our existing investors, Spark Ventures and Viking, both chose to follow on which is a very strong endorsement of Vivacta’s technology platform and our approach to its commercialisation’.
Vivacta is currently finalising the reader and cartridge for its rapid piezo film-based immunoassay system. It intends to begin clinical evaluation of its first PoC application, TSH, in 2008. To support its commercialisation plans, Vivacta is in the process of doubling the size of its facility in the
Immunoassay tests detect a binding event between the target molecule (antigen) and antibodies. Vivacta’s piezofilm technology provides a direct digital measurement of the rate of binding, and this relates directly to the concentration of the target molecule. The piezofilm technology achieves this using a flashing LED together with precision voltage measurement.
Vivacta is already in discussion with a number of potential licensees that are interested in the opportunity to commercially exploit its unique piezofilm technology.