Funding Round attributes
Owlstone Medical, a Cambridge-based company specializing in Breath Biopsy® technology for early disease detection and precision medicine, has announced the first closing of its Series E funding round, securing $27 million. The round was led by Ventura Capital, with participation from Aviva Ventures, Horizons Ventures, and other existing investors. The round also included a completed investment from the Gates Foundation.
The funds will be used to advance the development of Owlstone Medical’s proprietary Breath Biopsy platform and to support the creation and commercialization of novel diagnostic tests and point-of-care devices. This investment marks a significant milestone for the company as it continues to innovate in the field of non-invasive diagnostics.
Under the leadership of CEO Billy Boyle, Owlstone Medical has developed a pioneering Breath Biopsy platform designed to detect biomarkers in exhaled breath. This technology provides capabilities for biomarker discovery and validation, supporting the development of precision medicine applications across a wide range of medical conditions. The platform’s ability to detect diseases early, when treatments are more effective, aligns with its mission to save lives and improve patient outcomes.
The Breath Biopsy platform represents a transformative approach to diagnostics, enabling non-invasive detection of disease-specific biomarkers. By capturing and analyzing volatile organic compounds (VOCs) in breath, the technology offers a promising avenue for early diagnosis and monitoring of various conditions, including cancers, respiratory diseases, and digestive health disorders.
In addition to its Breath Biopsy platform, Owlstone Medical operates OMED Health, a patient-centric brand focused on providing non-invasive breath tests and longitudinal monitoring solutions for individuals with digestive health issues. This complementary offering underscores the company’s commitment to enhancing patient care through innovative diagnostic solutions.
The Series E funding round will enable Owlstone Medical to accelerate its development efforts and bring its novel diagnostic tests closer to market. By leveraging the support of its investors, the company aims to expand the reach and impact of its Breath Biopsy technology, addressing critical gaps in early disease detection and precision medicine.
Commenting on the funding, Billy Boyle emphasized the importance of advancing diagnostic capabilities. “Our Breath Biopsy platform has the potential to revolutionize how diseases are detected and monitored. With the support of our investors, we are well-positioned to continue our mission to save lives and improve outcomes through early detection and precision medicine.”
The participation of prominent investors such as Ventura Capital, Aviva Ventures, Horizons Ventures, and the Gates Foundation highlights the strong confidence in Owlstone Medical’s technology and vision. Their investment reflects the growing recognition of the role non-invasive diagnostics can play in transforming healthcare.
As Owlstone Medical progresses with the development and commercialization of its Breath Biopsy platform and associated diagnostic solutions, it remains focused on its goal of providing accurate, accessible, and early disease detection methods. The $27 million raised in this initial Series E closing provides the resources needed to advance its innovative technologies and make a meaningful impact in the field of diagnostics.
