deltaDOT raises $10.5M in private financing

deltaDOT, a UK-based biotechnology company developing and commercializing enabling products for bioscience research, says that a further private funding round has raised L6.0 million ($10.5 million).

The firm, which is a spin-out from London's Imperial College, said that, consistent with previous financings, this round was fully-subscribed by a combination of new investors and the continued support of current shareholders. Major participants included existing investors FF&P Private Equity, which led the financing round, Imperial Innovations and NPI Ventures, as well as new investors London Technology Fund and Sitka Health Fund VCT.

The proceeds of this fund-raising will be used to increase production capacity of the firm's recently-commercialized Peregrine protein/nucleic acid analysis system and the Merlin desktop DNA sequencer. The $10.5 million will also help develop an international sales and marketing function and enable development of further products. The latter includes a protein folding/unfolding chip for drug discovery, as well as quality control applications and a virtual two-dimensional chip to replace 2D gels.