Molecular diagnostics startup Fuse Diagnostics has announced the successful completion of an oversubscribed seed investment round in which it raised a total of 1.6 million pounds ($2 million) from a group of angel investors and the agency Innovate UK.
In a statement, Fuse said that the funding will be used to accelerate the development of low-cost, rapid, point-of-need tests.
"We are bringing gold standard laboratory performance into small, low-cost, disposable tests that anyone can use -- with results in under 10 minutes, thanks to our proprietary ultra-rapid amplification chemistries,” Dr. Harry Lamble, CEO of Fuse, said. "The simple product format enables users to test on demand in any location -- all they have to do is apply the sample and wait for the clear visual result."
Fuse is developing two diagnostics testing platforms: its Flip range, aimed at industrial, food, and water testing, where the elimination of pathogen contamination is critical, as well as the bioprocessing industry and cell biology research; and its Apex range, aimed at clinical diagnostics and veterinary applications, as well as more advanced industrial testing.
Brothers Harry and Ralph Lamble co-founded the Cambridge, U.K.-based company following the acquisition of their firm Sense Biodetection by Sherlock Biosciences in 2023.
