LBA Angels close £230k seed angel funding into Momentum Bioscience Limited

5 September 2011

Early Stage Reading based Medtech company Momentum Bioscience Limited which is Chaired by David Evans, AIM Chairman of the year in 2009, has successfully closed a £230k round, including £180k from LBA investors. Momentum Bioscience also becomes the second investment made by the LBA EIS RoundTable Syndicate Fund 2011. The Company is developing a novel and innovative approach for the rapid detection of infection in blood and other normally sterile body fluids and unlike other rapid methods Momentum’s technology detects all living bacteria and fungi.

The funding which also included significant investment from management will be used to put its prototype products through clinical trials prior to completing product development and launch.

Anthony Clarke, Managing Director of LBA, comments:

“I am impressed with the company’s products for rapid detection of infection in the hospital microbiology laboratory that produces results in just 2 hours compared to the usual 1-5 days using standard detection methods. An LBA syndicate of five angel investors was joined by our LBA EIS Roundtable Syndicate Fund who also invested £80k of seed investment.”

The Company has a highly experienced management team who are well placed to exploit this exciting opportunity.

For further information and enquiries:

London Business Angels
Anthony Clarke, Managing Director
Tel: +44 (0)20 7321 5672

About London Business Angels

LBA is one of the most experienced private angel networks in the UK. Since the early 1980s the network has been connecting innovating fast growth small and medium sized enterprises with investment through our network of business angel investors. LBA, part of Angel Capital Group, is professionally managed by a highly experienced management team, leveraging over 15 years’ experience in the early stage investment marketplace as established leaders in the development of new angel-led early stage investment initiatives, and nearly 30 years’ investing experience through the LBA network. LBA is a founding member of the British Business Angels Association, the industry's best practice trade association, and is also a member of EBAN, the European Business Angels Network.