Owlstone Medical secures $58 million to advance breath biopsy

Owlstone Medical, a global leader in breath biopsy for applications in early disease detection and precision medicine, closed its Series D financing round after securing $58 million in funding, exceeding its $50 million target after it was over subscribed. This brings the total raised by the company to more than $150 million since founding in 2016.

The round was led by returning investor Horizons Ventures, which now takes a seat on Owlstone Medical’s Board, and is joined by other existing and high-profile new investors from Asia, the Middle East and the United States.

Owlstone Medical has developed a unique proprietary platform in breath biopsy capable of both use in routine diagnostic testing and in biomarker discovery. Currently, Owlstone is generating revenue by providing research products and services to leading pharmaceutical and academic organizations as well as having a robust pipeline of Research Use Only panels and diagnostic tests in develop-ment in lung cancer, liver disease, and respiratory disease. This financing will accelerate the development and commercialization of these tests and facilitate further advancements in the breath biopsy platform.