Owlstone Medical raises funds for commercialisation of Breath Biopsy platform

Diagnostics company, Owlstone Medical, has raised $15 million to drive the global commercialisation of its Breath Biopsy platform.

The funds raised in this latest round, which was co-led by Horizons Ventures along with current investor Aviva Ventures, will allow Owlstone to bring its lung cancer Breath Biopsy test to market, deepen the early detection pipeline with ongoing trials across multiple cancers, and further grow its existing precision medicine services to the pharmaceutical industry.

“We are pleased to join Aviva Ventures and other key strategic investors in this financing round,” specified Horizons Ventures’ Patrick Zhang. “We believe Owlstone Medical is positioned to become a strong player in the fields of early cancer detection and precision medicine across multiple therapeutic areas. We are confident that Owlstone Medical’s Breath Biopsy platform could have a major impact on healthcare.”

“Aviva Ventures invests in entrepreneurs with high growth businesses and has identified Owlstone Medical’s technology as being strategically important to our business,” commented Dr Doug Wright, medical director at Aviva. “The expansion of our partnership with them signifies continued confidence in the company and in Breath Biopsy as an entirely new means of early disease detection, screening and treatment monitoring that could make a real difference to people’s health.”

Billy Boyle, co-founder and CEO at Owlstone Medical, added: “We are delighted that Horizons Ventures has joined forces with Aviva to co-lead this funding round. Since founding the company, we have established Breath Biopsy as a new industry category and are confident that this funding will allow us to demonstrate the significant value that we can deliver from our market leading position in early detection and precision medicine.”