Biomedical Engineering Reference
In-Depth Information
17.3 Examples of Investment/Financing in Biosensor Companies
This section provides some examples of investment/financing in biosensor companies. The
examples were selected at random from what is available on the internet. They are provided
here together for instructive purposes. There is no hidden agenda behind the presentation of
these examples. The readers may be advised to accept them as is, and reach/arrive at their
own conclusion(s) based on their readings of just a particular example, or a set of examples.
At the very least, the examples should indicate the amount of financing/investment that is
required for a biosensor start-up, to keep it going, and hopefully reach a profitable state.
It would be helpful to have information on how many start-ups begin, and manage to go
through the different stages of financing and development (from bench scale to bedside)
before the biosensor is ready to be introduced into the market. This sort of information is
not easily available. Perhaps, it exists with the more successful and presumably larger biosen-
sor companies or with venture capitalist companies who finance these types of start-up com-
panies or support such types of entities during the different stages of their development.
Analytica-World (2009)
indicates that MedMira, Inc. located in Halifax, Nova Scotia, Canada has
received $3 million from ACOA's Atlantic Innovation Fund for its biosensor division for the
development of revolutionary diagnostics. The company reports that this infusion of capital from
the Atlantic Innovation Fund (a government of Canada entity) will support the development of the
Maple Bioscience biosensor technology. This new diagnostic instrumentation proposed to be
developed will replace the 30 year old technology. Furthermore, it will place the company in a
favorable position to compete in the U.S. diagnostic market valued at U.S. $22 billion.
Bioportfolio (2008)
recently indicated that U.S. genomics has been awarded a $9.1 million con-
tract for the development of an advanced biosensor by the U.S. DHS (United States Department
of Homeland Security). This Phase IIIX contract under the Bioagent Autonomous Networked
Detectors (BAND) program will permit the company to continue its development, testing, and
optimization of its sophisticated biological sensor for the detection of airborne pathogens using
single molecule DNA mapping technology. U.S. genomics CEO, John J. Caneppa indicates that
the resources provided under the new contract will permit the company to carry out extensive
operational testing, and to advance the capabilities of its prototype systems. The company
indicates that their prototypes demonstrate the capabilities of their unique proprietary approach
to rapidly detect multiple bacterial pathogens, toxins, and viruses simultaneously in an environ-
mental sample using a single reagent set. The company points out that this should help in improv-
ing the security of U.S. citizens. Furthermore, their detection technique is flexible enough to be
applicable to forensic, human diagnostic, and military applications.
The
Oxford Investment Opportunity Network (OION) (2009)
has provided Cybersense Bio-
systems Ltd. in Oxford's Center for Ecology and Hydrology with £225,000 (equivalent to
$330,075; exchange rate £I
¼
$1.467 April 11, 2009). This infusion of capital will permit
