We are proud to share the news that one of our members, Transdermal Diagnostics, have raised a total of £1.1M in seed and grant funding.
Transdermal Diagnostics, a University of Bath spin-out based in our St Philips incubator, has secured £1.1 million to develop the world’s first 100% needle-free platform for blood sugar monitoring.
Led by its founders CEO, Dr. Luca Lipani, CSO, Dr. Adelina Ilie, and Advisor, Professor Richard Guy, the growing team is commercialising innovative technologies for the non-invasive, and real-time monitoring of health biomarkers.
Transdermal Diagnostics’ securing of £800k in a seed funding round, led by QUBIS Innovation Fund – an SEIS fund focussed on university spin-out company funding, and £300k from an Innovate UK grant, will “kick-start [their] mission to revolutionise the prevention, diagnosis and management of chronic conditions, starting with diabetes” says CEO, Luca Lipani.
The funds will be used to strengthen the company’s engineering team and preparations for the clinical trials of their trailblazing, 100% needle-free and pain-free wearable, which will help patients manage diabetes accurately and more effectively.
Diabetes is a global health crisis which is projected to afflict 783 million people by 2045. Transdermal Diagnostics is tackling this crisis by developing their wearable smart-patch which uses “miniaturised biosensors to sample the fluid that bathes the living cells of the skin, in which biomarkers, including sugar, are at very similar levels to those in blood…”. This is disruptive because “…the amount of sugar extracted can be detected and quantified non-invasively, without puncturing or disrupting the skin, thereby avoiding any need for a blood sample or the use of needles”.
“It’s fantastic to see Transdermal Diagnostics’ success in securing their seed funding, I look forward to supporting their growth within the Science Creates ecosystem” – Dr. Ashley Brewer, CEO of Science Creates Incubators”
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Science Creates Ventures (FRN: 933134) is an Appointed Representative of Kin Capital Partners LLP “KCP”, which is authorised and regulated by the Financial Conduct Authority (FRN: 656789).