Owlstone Medical announces $27 million USD first close in Series E financing round

Funds to accelerate commercialisation and clinical trials of diagnostic tests

Owlstone Medical has announced a first close of $27 million (circa £22 million) in its Series E financing round. The round was led by Ventura Capital, with participation from Aviva Ventures, Horizons Ventures, and the Gates Foundation.

The funds will support the development and commercialisation of Owlstone’s Breath Biopsy platform. This includes diagnostic tests and point-of-care devices for lung cancer, liver disease, and digestive diseases.

Mo El Husseiny, Founder and Managing Partner at Ventura Capital, highlighted the potential of breath-based diagnostics. “Owlstone is driving progress in the space,” he said.

Current clinical trials include a screening test for early-stage lung cancer, the most common cancer killer worldwide.

The LIBRA test for chronic liver diseases and the OMED Health Breath Analyzer for digestive diseases are also in development.

Tom Grant, Head of Venture Investments at Aviva Investors, praised Owlstone’s advancements. “Owlstone has made tremendous progress since their last fundraise,” he stated.

Billy Boyle, co-founder and CEO at Owlstone Medical, expressed gratitude for investor support. “The funds will enable us to advance clinical trials and commercialize our breath tests,” he said.

Owlstone’s proprietary Breath Biopsy® platform and VOC Atlas® database have shown significant promise. The company’s products are now reaching the market, validating their innovative approach.

These developments mark a crucial step in the company’s mission to revolutionize disease detection and precision medicine.

Owlstone continues to lead in the field of breath-based diagnostics.