University spinout life sciences firm Llusern Scientific boosted with equity investment
University spinout firm Llusern Scientific, which has developed a rapid diagnostic test for urinary tract infections (UTIs), has been boosted with a six-figure equity round investment. The Cardiff-based company - which spun out of the University of South Wales - has been backed by the Development Bank of Wales in its latest fundraise aimed at accelerating its commercialisation.
Since the start of the year the development bank has invested in six spinout firms with a combined value of £1.7m. The others include Swansea-based Corryn Biotechnologies and Grove Nanomaterials along with Awen Oncology, a spin-out of Bangor University and Cardiff University. Cardiff Metropolitan University spinout Kaydiar and Cardiff University spinout Optimise.ai.
Llusern Scientific was established by microbiologist Dr Emma Hayhurst and molecular geneticist Dr Jeroen Nieuwland after they were awarded a discovery award from the Longitude Prize and UK innovation agency NESTA to develop an affordable diagnostic tool to combat antibiotic resistance.
Read More:The latest equity deals in Wales
They were later joined by biomedical engineer Professor Ali Roula and diagnostic professional Martyn Lewis to develop Lodestar DX, a molecular diagnostic test system for both humans and animals that is non-invasive and capable of providing highly accurate results in 35 minutes.
Chief executive of Llusern Scientific, Dr Hayhurst said: “UTI prevalence is rising with an ageing population and the increase in antibiotic resistant infections. The gold standard for UTI diagnosis is
Recommend
Tech firm Kromek remains loss-making despite record revenues
2025-03-23 09:58:23
2025-03-23 09:58:23
Chipmaker Graphcore to increase workforce by 20 per cent
2025-03-23 09:58:23
2025-03-23 09:58:23
South West tech sector to be supported by new advisory board
2025-03-23 09:58:23
2025-03-23 09:58:23
Britishvolt administrators move to liquidate failed gigafactory firm
2025-03-23 09:58:23
2025-03-23 09:58:23
Chancellor announces major investment in UK tech and creative sectors in Autumn Budget
2025-03-23 09:58:23
2025-03-23 09:58:23
Wise's shares soar as customer growth fuels 51% profit surge, plans to cut fees further
2025-03-23 09:58:23
2025-03-23 09:58:23
UK Competition Authority sets terms for Vodafone and Three's £15bn merger
2025-03-23 09:58:23
2025-03-23 09:58:23
Nvidia dethrones Apple as world's most valuable company in stock market shake-up
2025-03-23 09:58:23
2025-03-23 09:58:23
Workday's UK profits soar as it doubles down on investment and partnerships
2025-03-23 09:58:23
2025-03-23 09:58:23
Fintech firm secures £1.35m prize at pitching competition
2025-03-23 09:58:23
2025-03-23 09:58:23