Microplate Dx Secures £2.5M Funding for Antibiotic Diagnostic Platform
Microplate Dx, a diagnostics technology company based in Glasgow, UK, recently secured £2.5M in Seed funding. The funding round included participation from existing investors Deepbridge Capital LLP and the University of Strathclyde, as well as new investors Scottish Enterprise, SIS Ventures, and Thairm Bio, a life sciences investor from Boston. The company plans to utilize these funds to further develop its point-of-care diagnostic platform, which aims to quickly identify effective antibiotics for bacterial infections and guide doctors in prescribing the appropriate treatment.
Dr.
Stuart Hannah, the CEO of Microplate Dx, leads the company in its mission to provide rapid antibiotic susceptibility testing. The platform allows clinicians to prescribe the most suitable antibiotics in a matter of minutes. Initially, the platform will focus on tackling urinary tract infections (UTIs). The company has already completed several successful clinical studies and aims to obtain results from a urine sample within an hour. With the prototype stage underway, the additional funding will enable Microplate Dx to continue clinical trials in 2024/25 and prepare for commercial launch in European pharmacies, with potential expansion into the US market.
In 2022, Microplate Dx emerged as a spin-off from the University of Strathclyde. It was founded by Dr. Stuart Hannah (CEO), Professor Damion Corrigan (CTO), Professor Paul Hoskisson (CSO), and Dr. Poonam Malik (Chair). As of now, the company employs 12 staff members, but plans to increase its headcount by 25% in the coming year. Microplate Dx was also selected as one of the 12 startups to join the AI Accelerator Programme, delivered by the Bayes Centre and Edinburgh Innovations at the University of Edinburgh, in partnership with other organizations. UTIs are prevalent worldwide, affecting an estimated 92 million people annually. In the UK alone, UTIs accounted for 13.7% of all antibiotics prescribed in community practice within the NHS.
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