Owlstone Raises £22M in Series E Round to Advance Breath-Based Diagnostics

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Pioneering Breath-Based Diagnostics

Owlstone, the global leader in Breath Biopsy® technology for early disease detection and precision medicine, has announced the first close of its Series E financing round, raising £22 million. The funding round was led by Ventura Capital, with participation from Aviva Ventures, Horizons Ventures, and the Gates Foundation. This milestone reinforces Owlstone’s mission to transform healthcare through its innovative diagnostic solutions.

 

 

Transformative Potential of Owlstone’s Technology

1. Applications of Breath Biopsy®

Owlstone’s proprietary Breath Biopsy® platform leverages volatile organic compounds (VOCs) in exhaled breath to detect and diagnose diseases at an early stage. This cutting-edge technology enables:

• Early-stage detection of life-threatening conditions

• Non-invasive and cost-effective diagnostic solutions

• Precision medicine tailored to individual patient profiles

2. Advancing Critical Diagnostic Tests

The funds will accelerate development and commercialisation of several key diagnostics:

• Lung Cancer Screening: Clinical trials are underway for the early detection of lung cancer, responsible for 1.8 million deaths annually.

• LIBRA® Test for Liver Disease: A primary care and at-home diagnostic test for chronic liver diseases, which account for over 2 million deaths worldwide every year.

• OMED Health® Breath Analyzer: A low-cost, handheld device designed to diagnose and monitor digestive diseases, affecting over 1 billion people globally.

3. Global Impact and Strategic Partnerships

Owlstone’s progress has been bolstered by partnerships with:

• The U.S. Department of Defence

• The Gates Foundation

• The FDA

These collaborations underscore the immense potential of breath-based diagnostics in addressing global healthcare challenges.

 

 

Statements from Leadership and Investors

Mo El Husseiny, Founding Partner at Ventura Capital

"The enormous potential of breath-based diagnostics is becoming clearer every day, with Owlstone as the main driver of progress in the space. Our initial thesis has been confirmed through Owlstone’s recent partnerships with the U.S. Department of Defence, the Gates Foundation, and the FDA. We are pleased to support their ongoing development of Breath Biopsy, which has been proven by the first products approved in market in the US and UK."

Tom Grant, Head of Venture Investments at Aviva

"Owlstone has made tremendous progress since their last fundraise. This includes their proprietary Breath Biopsy platform and VOC Atlas® database, and in developing diagnostic solutions in high-need clinical areas with products now reaching the market. Aviva Ventures has been an early investor in the business, and we remain confident in Owlstone and its future impact on healthcare."

Billy Boyle, Co-Founder & CEO of Owlstone

"Testament to the power of Breath Biopsy is the continued strong support we continue to enjoy from our investors. The funds closed will enable us to progress our business to the next stage, advancing clinical trials and supporting the launch and commercialisation of our pipeline of unique breath tests."

 

 

The Future of Owlstone and Breath Biopsy

Scaling Innovation

The £22 million raised in this funding round will enable Owlstone to:

• Advance clinical trials for its diagnostic solutions

• Launch and commercialise its pipeline of breath-based diagnostic tests

• Further develop its VOC Atlas® database for precision medicine

Expanding Global Reach

Owlstone aims to:

• Broaden adoption of its technology in international markets

• Strengthen partnerships with healthcare providers and regulatory agencies

• Continue to lead innovation in non-invasive diagnostics