Mercia Technologies, which specialises in building, funding and commercialising innovative British firms, has agreed its first direct investment sourced by Enterprise Ventures Group following its acquisition by Mercia in March.
Mercia has invested an initial £400,000 in Concepta Diagnostics, which develops diagnostic devices for women’s health.
Based in York, and founded by a group of scientists who previously worked for Unipath in the fields of fertility and women’s health, Concepta has developed a range of market-ready products.
Its product range recently achieved product registration in one of its largest target markets, China, where the abolition of China’s one-child policy is expected to drive significant demand for a cost effective fertility monitoring system.
Concepta’s product range provides data to women for a variety of fertility applications, using disposable test strips and devices linked to a mobile app which captures levels of key fertility hormones in urine and builds an accurate and easy-to-understand “digital diary”.
Peter Dines, investment director at Mercia, said: “The investment into Concepta reinforces the strategic rationale behind Mercia’s acquisition of EVG.”