Clinical Design Technologies is using £750,000 of CIOSIF equity investment to promote its groundbreaking Urine Testing System technology.
The investment is part of a £1.57 million fundraising round, which includes £400,000 from Sorbon Investments Ltd. The funding is supporting rollout of the product in the UK and overseas, and will also allow the business to take on six new staff initially, with further hires planned.
Urine Testing System is an award-winning closed system for digital point-of-care urine testing for all healthcare providers including doctors’ surgeries, hospitals and care homes. In 2019 it won a prestigious Red Dot Award for its intuitive design and potential to revolutionise one of the most common medical tests.
Oliver Blackwell, Clinical Design Founder and CEO, said: “An estimated 100 million urine tests are carried out every year in the UK alone, many of which are still conducted with dipsticks that are colour-matched by eye. We have designed and engineered a digital solution that is easy-to-use and provides standardised results, which can be read on a desktop computer and saved to a patient’s electronic health care record.”
He added: “Securing funding at such a pivotal point can be tricky for early-stage med-tech companies like ours. We’re delighted to receive this backing which will be used to continue our UK rollout alongside entering overseas markets in Europe and preparing for expansion into the US in 2020.”