Lab21 develops and manufactures molecular and immunodiagnostic products and provides clinical laboratory services for personalised medicine, blood bank screening and other clinical diagnostics. The company operates two divisions: a Clinical Laboratories division that develops molecular diagnostic services and companion diagnostics for oncology and infectious diseases, and a Products division that manufactures infectious disease tests such as malaria, Chagas, syphilis and cytomegalovirus (CMV) for blood screening. Lab21's customers include major pharmaceutical companies, diagnostic manufacturers, clinical laboratories and biotechnology firms. The company has corporate offices in Cambridge, UK and Greenville, South Carolina, and manufacturing/GMP capacity in Cambridge with additional facilities in Newmarket, Camberley and Bridport. Lab21 follows a buy-and-build strategy, is a rapidly growing molecular and immunodiagnostics manufacturer, and was expected to deliver greater than 30% revenue growth in 2012. The company plans to expand GMP manufacturing capability and to grow its international sales channel, particularly into the U.S. Lab21 provides state-of-the-art diagnostic products and services, supporting drug discovery and healthcare, with its clinical reference laboratory and corporate office in Cambridge, UK. Its growing test portfolio offers companion diagnostics and high-technology assays in infectious diseases, oncology and pharmacogenetics, with emerging interests in cardiovascular and metabolic disease. The company announced it has closed a £2.2m round of financing from international private equity investors. New investors Nexus Medical Partners and Rowan Dartington join existing shareholders Merlin Biosciences and Kreos Capital, and Dr Ed Snape of Nexus will join Lab21's board. Lab21 said the funds will be used to progress an acquisition plan and to establish US operations in South Carolina to expand its presence in the North American market. The company expects to complete two European company acquisitions during the first half of next year.

Total raised

$11M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2012