Abingdon-based Sense Biodetection raises $50 million to spur development of instrument-free rapid testing

Sense Biodetection

Abingdon-based Sense Biodetection has raised a $50m Series B investment to advance commercialisation of its Veros™ COVID-19 product and continue development of its portfolio of instrument-free, rapid molecular tests.

The Veros platform introduces novel and proprietary rapid molecular amplification technology to detect a variety of deadly diseases. The Series B round was led by Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries, Inc.

Harry Lamble, CEO of Sense, said: “This Series B round is crucial in providing us with the resources to grow our Veros platform to revolutionise decentralised point-of-care testing; and it is particularly important as we commercialise our Veros COVID-19 test, which delivers laboratory quality results directly to users within minutes, without an instrument. This will be an essential tool in the effective management of outbreaks of this and other diseases,”

“Partnering with KDT provides us the support we need to deliver on our ambitious plans to quickly scale manufacturing and commercialise the Veros platform and launch a whole pipeline of testing products, beginning with the Veros COVID-19 test.”

Sense’s Veros product platform ushers in a pioneering new class of molecular diagnostic test that brings the performance of central laboratory PCR testing into a rapid, easy-to-use, disposable format.

“KDT sees huge potential for Sense’s Veros platform to transform the way medical providers and patients approach healthcare, empowering more choice, increased access, and better quality of care,” said Chase Koch, President of Koch Disruptive Technologies. “Sense’s vision to decentralize the healthcare system presents a foundational shift in an industry ripe for disruption.” said Chase Koch, President of Koch Disruptive Technologies.

He added: “Sense’s talented team and its innovative Veros platform are changing the way we manage healthcare and infectious diseases, and we expect even greater applications of their technology as they continue to grow.”

The Series B investment also included participation from Sense’s existing investors Cambridge Innovation Capital, Earlybird Health, Jonathan Milner and Mercia Asset Management.