Metabolomic Diagnostics raises $2 million in funding
Cork based company Metabolomic Diagnostics has raised an additional $2 million in venture funding. The funding will help the biotec company to complete its new screening test for first time pregnant mothers.
The PrePsia blood test will be able to detect the risk of pre-eclampsia early on in the pregnancy and ultimately save the lives of women and their babies through personalised medical interventions.
Pre-eclampsia is the single greatest cause of premature births and is still responsible for the deaths of more than 75,000 mothers and half a million babies during pregnancy.
The funding will also be used by Metabolomic Diagnostics to commercialise the metabolomic biomarkers technology invented by Prof Louise Kenny, director at the INFANT Research Centre.
“Securing this new funding will allow Metabolomic Diagnostics to complete PrePsia in our laboratory and assign CE Marking to bring the company to first revenues in 2017,” said Metabolic Diagnostics chief executive Charles Garvey.
The investment came from existing investors, SOSventures, Enterprise Equity and Enterprise Ireland as well as with a number of other private investors.
