A Bristol company that has developed faster and cheaper ways to identify harmful bacteria has received financial backing from eight successful city-based entrepreneurs.
FluoretiQ, which is based in the pioneering Unit DX biotech hub in St Phillips, was formed two years ago to use novel technology to identify bacterial infections in hospitals, clinics and care homes.
Its technology can reduce clinical decision-making time from 48 hours to just 15 minutes. At the moment it is working on a solution for urinary tract infections to reduce recurring GP visits, hospitalisation and unnecessary prescription of broad-spectrum antibiotics.
The technology was initially developed with funding from Deepbridge Capital. Now FluoretiQ has received more funding to take it to the next level, including from members of Bristol Private Equity Club.
The club was set up three years ago by a group of like-minded individuals with close ties to the city who are able to invest in, and support, local, fast-growth businesses with a range of skills and experience. One described it as “sending the lift back down”.
FluoretiQ chief executive Neciah Dorh, who has a PhD in nanophotonics and a background in fluorescence technologies for bio-sensing, leads the team which has developed the techniques.
He said: “This support will enable us to push forward with our ambitious growth plans to revolutionise bacterial diagnostics. We are passionate about our research and development and have invested in building the team we need to deliver this technology to people all over the world.
“We have always worked in collaboration with the University of Bristol and to now have other Bristol-based entrepreneurs recognising the potential of FluoretiQ is a huge boost and encouragement to us as a business.”
Bristol Private Equity Club founder Jerry Barnes said: “Bristol is fast gaining a reputation for the number of companies like FluoretiQ that are using emerging technology to make a real difference to the world.”
The club now has 80 successful entrepreneurs and businesspeople with capital in the club who want to support fast-growing and successful businesses.
They will also share the expertise and lessons they have learned over the years with those at the leading edge of development.
Bristol Private Equity Club has now invested a total of £6m in 19 Bristol area businesses.
Financial details of the FluoretiQ investment have been disclosed.
Pictured: The FluoretiQ team
