A York-based company has raised £2.3m to develop a new all-in-one device for pregnancy and fertility testing.
Concepta, a women’s health diagnostic firm, received the vital investment from Finance Yorkshire’s Seedcorn Fund, Diagnostic Capital and Angel CoFund. Finance Yorkshire has supported the management team from inception.
The company was founded by a group of former scientists at Unipath and has recently announced several new appointments including former chief executive of Axis-Shield Dr Ian Gilham joining as chairman, and lead equity investor David Evans joining as a board director.
Concepta is responsible for creating leading digital fertility and pregnancy tests such as Clearblue, as well as other women’s health diagnostics.
The new funding will allow the firm to develop and market a device that can accurately and simultaneously test for fertility and pregnancy, as well as monitor early stage pregnancy health.
Finance Yorkshire’s investment director Mark Wyatt said: “We have worked closely with the Concepta team for some time, and have been impressed with their combined expertise and knowledge of this sector.
“This is a significant early stage fundraising, and I look forward to continuing to work with the company as it brings its exciting products to market.”
Tim Mills, investment director at Angel CoFund, said: “At the Angel CoFund we seek to support great and innovative British businesses, and Concepta certainly hits that note.
“We have been particularly impressed by the knowledge and experience of the Concepta team. The expertise Ian Gilham and David Evans bring to the table is invaluable and will be a real asset to Concepta.”