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The law firm Broadfield has advised Owlstone Medical on its successful US$27 million Series E funding round.
Owlstone Medical (‘Owlstone’) is the global leader in Breath Biopsy® for applications in early disease detection and precision medicine. The first closing of US$27 million in its Series E financing round was led by Ventura Capital and joined by investors including Aviva Ventures, the Gates Foundation and Horizons Ventures.
The funds raised will be used to support the clinical development of a breath test for the early detection of lung cancer and to accelerate commercialisation of diagnostic tests and point-of-care devices for liver disease and digestive disease.
The Broadfield team was led by Cambridge Corporate Finance Partner Duncan Walker, who said:
'Owlstone is a long-standing client of the firm and we are thrilled to have advised on this significant funding round. Owlstone is on an exciting journey developing breath-based diagnostics. It has been a privilege to have played a part in that journey.'
Duncan Walker
Partner
Billy Boyle, co-founder and CEO at Owlstone Medical, said:
'I would like to extend our thanks to Duncan and the team at Broadfield. Their professionalism, advice and guidance are greatly appreciated.' He continued: 'Early diagnosis is a critical determinant of health outcomes. By enabling swift and non-invasive detection of disease, breath analysis has the potential to save lives and dramatically reduce healthcare costs in a wide range of applications. This investment is a testament to how Owlstone is uniquely positioned to transform breath-based disease diagnosis through our Breath Biopsy platform.'
Billy Boyle
co-founder and CEO at Owlstone Medical
The Gates Foundation was advised by K&L Gates, Horizons Ventures by McDermott Will & Emery and Aviva Ventures by Eversheds Sutherland.
