Atlas Genetics, a company that develops rapid tests for serious diseases including meningitis and the hospital superbug MRSA, is the latest to benefit from the £25 million South West Ventures Fund, which is managed by the YFM Group, and the £5 million GEIF Ventures coinvestment fund, managed by NW Brown.
The technology developed by Atlas Genetics will allow hospitals and eventually GPs to performsuch tests locally and make decisions about treatments within 30 minutes. Currently, hospitals and clinics can take up to 72 hours by which time patients may have become seriously ill.
The funding will enable Atlas, which employs seven staff and works closely with academics and researchers at the University of Bath, to finalise the prototype of the test instrument.
To date the South West Ventures Fund has invested £3.25 m in 15 companies.
