Destina Genomics secures investment from the Scottish Investment Bank.
Destina Genomics, an oncology spin-out of Edinburgh University, has secured an investment of £930,000 ($1.5m) from investors including Old College Capital, the university’s venturing unit.
Scottish Investment Bank, Spain-based Vitro Group’s subsidiary Master Diagnostica, and unnamed private investors also participated.
News of the investment reaches us via our sister publication Global Government Venturing.
Destina was spun out in 2010 and commercialises cancer diagnostic and detection tests. The patented technology is based on research by Juan Diaz Mochon and Mark Bradley at the School of Chemistry.
The spin-out is aiming to bring its diagnostic test to market in the second half of 2016.
Kerry Sharp, head of the Scottish Investment Bank, said: “We look forward to continuing to work with Destina to help realise its ambitious growth plans.”