1st September 2011

Finance Wales: second round investment in AssayMetrics

 

 

Drug development company AssayMetrics is embarking on its first international sales drive following Finance Wales’ second investment round. Finance Wales first invested in the company in 2009.

AssayMetrics’ new product, a laser-based fluorescence plate reader used in drug screening, has already attracted significant interest from a number of global pharmaceutical companies and other high-profile customers.

Why we invested

Finance Wales invested two rounds of equity in early stage company, AssayMetrics, enabling it to develop and commercialise its screening technology for the drug discovery market.

The company was founded in 2004 by prize-winning flourescence expert Dr Pierre Graves. The company launched a range of chemical dyes for compound screening in 2006. Dr Graves required investment to expand the company by developing a prototype plate reader which would speed up the drug screening process.

Outcome

AssayMetrics successfully launched its plate reader in early 2011, immediately attracting the interest of global pharmaceutical companies and other high-profile customers.

AssayMetrics secured a second round of investment to commercialise its technology by developing new international sales channels.

For more information about this investment or about Finance Wales’ investments in general, contact 029 2033 8130, earlystage@financewales.co.uk