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Amphion builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK.
Amphion has a significant shareholding in 8 Partner Companies developing proven technologies targeting substantial commercial marketplaces, each in excess of $1 billion. Each Partner Company is chosen with the goal of achieving an exit valuation in excess of $100 million.
Amphion investee Myconostica attracts £1.7 million in new funding
Amphion Innovations PLC (AIM: AMP) investee company Myconostica Ltd announced it attracted £1.7 million in the first close of its series D investment round.
The UK-based medical diagnostic company developing and commercialising rapid and highly specific tests for life-threatening fungal infections said the funds will be used to launch additional molecular diagnostic products and extend the real-time Polymerase Chain Reaction platforms Myconostica’s tests are able to operate on.
Earlier this year Myconostica launched a real-time PCR kit, MycAssay Pneumocystis for the detection of Pneumocystis, a major cause of pneumonia in AIDS. The kit shows a result in under 3 hours. The company called current diagnostic methods “slow and insufficiently specific for optimal patient care”.
Myconostica also plans to shortly launch a test to identify Aspergillus infections, a major cause of mortality in leukaemia and transplant patients and a rapid identification system for fungi found in blood.
Myconostica was formed in 2006 as a spin-out from the University of Manchester. It develops tests based on highly specific genetic signatures unique to each disease which allow faster and much more precise identification.
It said it has a strong portfolio of tests and intellectual property to support its future growth.
It estimates that the annual potential test numbers in the US, EU and Japan for Myconostica’s current and forthcoming products exceed 6 million annually, when the market is fully developed.
Amphion Innovations holds a 22.14 percent stake in Myconostica.
Amphion builds shareholder value in high growth companies in the medical and technology sectors by using a focused, hands-on company building approach, based on decades of experience in both the US and UK. Currently there are eight partner companies developing proven technologies targeting substantial commercial marketplaces.
