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September 7, 2021

Owlstone Medical raises $58m in Series D round

The proceeds will be used to enhance the Breath Biopsy platform and commercialise certain tests.

Breath Biopsy solutions provider Owlstone Medical has raised a total of $58m in a Series D financing round.

The round was led by returning investor Horizons Ventures. Several existing and new investors also joined.

The latest fundraising brings the total amount raised by Owlstone Medical from the market to more than $150m.

The UK-based company has developed a platform in Breath Biopsy for use in routine diagnostic testing and biomarker discovery.

Currently, Owlstone Medical offers research products and services to pharmaceutical and academic organisations. It also has a pipeline of research use only (RUO) panels and diagnostic tests in development for lung cancer, liver disease and respiratory disease.

Owlstone plans to use the new proceeds to support the development and commercialisation of these tests. A portion of the new funding will also be used to enhance the Breath Biopsy platform.

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Owlstone Medical co-founder and CEO Billy Boyle said: “Owlstone Medical continues to make tremendous progress, including major advancements in our Breath Biopsy platform, such as the development of EVOC Probes; strong progress in our test pipeline with the launch of the Respiratory Diseases RUO Panel and the publication of key study results for liver disease; and entering into a partnership with Functional Gut Diagnostics for the provision of clinical tests for small intestinal bacterial overgrowth (SIBO) and food intolerance.

“We are thrilled to have the support of such highly respected investors as we strive to have a major impact on patient outcomes and the efficient delivery of healthcare resources and are very pleased to now welcome the experience and insight of Horizons’ Patrick Zhang to our board.”


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