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Owlstone Raises $11.6M

NEW YORK (360Dx) – Breathalyzer-based diagnostic firm Owlstone Medical today said it has raised approximately $11.6 million in an investment round.

Existing investors participated in the round, which will go toward a commercial launch of Owlstone's breath biomarker R&D services, including the opening of a new high-volume clinical facility, the Cambridge, UK-based company said. Funds will also be used for ongoing clinical trials in lung and colon cancer screening.

Owlstone is leveraging field asymetric ion mobility mass spectrometry to measure volatile organic compound metabolites in patients' breath or body fluids that are specific to disease. Such an approach, it said, allows a non-invasive diagnosis at an early stage, furthering effective treatment and better patient outcomes.

During the summer, the firm raised $7 million.

"The commercial launch of our R&D services will, for the first time, allow clinical and pharma partners to easily identify breath biomarkers for novel diagnostics and precision medicine applications," Owlstone CEO and Cofounder Billy Boyle said in a statement.