Refeyn rates $3.4m

Refeyn, a UK-based molecular measurement instrument developer spun out of University of Oxford, has secured £2.6m ($3.4m) in a round backed by the university and its venture fund, Oxford Science Innovations.
The round featured Foresight Williams Technology EIS Fund, an investment vehicle backed by Williams Advanced Engineering, a subsidiary of racing car and engineering company Williams Group. The fund is managed by private equity firm Foresight.
Founded in April 2018 as Arago Biosciences, Refeyn is developing instruments for molecule mass measurement for purposes such as biopharmaceuticals, based on research by co-founder Philipp Kukura, who leads molecular structure and dynamics research in Oxford’s Department of Chemistry.
Refeyn’s instruments rely on a technique known as single molecule light scattering that observes microscopic deviations in the direction of light as it is obstructed by certain molecules.
The technology is being marketed as a more accessible and cost-effective option for molecular measurement to help biopharmaceutical programs accelerate research and reduce expenditures.
Refeyn will use the equity funding to scale manufacturing and distribution of its current offering and to develop additional products.
The spinout previously received an undisclosed sum in an August 2018 round backed by Oxford Sciences Innovation and Parkwalk Advisors, the fund management arm of commercialisation firm IP Group.
Matthew Burke, head of technology ventures at Williams Advanced Engineering, said: “This investment offers a very exciting opportunity to apply Williams Advanced Engineering’s product design and manufacturing expertise to help Refeyn scale rapidly.
“Our engineers and designers are already working with Refeyn to bring enhancements to its current range of products and we look forward to continuing to support the company as it brings its transformative technology to market.”