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MIP Diagnostics Raises Additional £2.2M After Reaching Strategic Milestones

NEW YORK ─ MIP Diagnostics on Tuesday announced it has raised an additional £2.2 million ($2.9 million) in an oversubscribed second tranche of financing after reaching strategic milestones and securing commercial agreements.

Mercia Asset Management, Calculus Capital, Downing Ventures, BGF, and a new angel investor participated in the financing.

The second tranche follows an earlier £5.1 million tranche of financing closed in June 2020.

The Bedford, UK-based firm, a spinout of the University of Leicester, has developed a process to manufacture nanoscale molecularly imprinted polymers, also known as nanoMIPs, which are synthetic antibodies that can be used in biosensor-based tests and other in vitro diagnostic tests.