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UK-based diagnostic health testing company, Regenerus Laboratories, announced that it has secured £8m to accelerate operational and market expansion, and strengthen its diagnostic platform. The funds consist of £5m equity investment from Foresight Group and a £3m R&D grant from Scottish Enterprise.
The combined £8m will drive Regenerus's growth strategy across four key areas: strengthening of core offerings; expansion into the medical doctor market; advancing international logistics capabilities; and commercialising the digital platform. The fulfilment of these objectives will occur through new laboratory partnerships, early-stage detection testing, and further optimisation of the platform to deliver more powerful, evidence-based clinical reporting.
The round was led by Foresight Group, a leading regional private equity and real assets investment manager, which has invested £5m in equity to grow the business. Alongside this, a further £3m grant was awarded from Scottish Enterprise, Scotland's national economic development agency which supports innovative businesses to grow and scale. Scottish Enterprise's involvement will specifically support the build-out of Regenerus's diagnostic platform as well as research and development focused around the Company’s Edinburgh-based research centre.
"This investment marks a pivotal moment for Regenerus. With Foresight as an institutional equity partner, coupled with grant support from Scottish Enterprise, we have the resources to scale decisively and drive the industry forward. We believe advanced diagnostic testing is a critical part of solving the increasing pressure on secondary care. This funding allows us to put better testing, better data and better clinical insights into the hands of more practitioners, so they can keep their patients healthier for longer.” - Prof Ben Thomson, Chairman and Co-founder, Regenerus Laboratories.
At a time when the burden on healthcare services continues to grow, Regenerus is positioned to equip practitioners with preventative and robust tools that focus on enabling detection at the earliest stage and root cause intervention. Integral to this mission is ‘Find A Practitioner’, a platform feature that connects individuals with qualified professionals. Bridging the gap between functional testing and care, Find A Practitioner ensures individuals have the expert support required to understand complex health results and turn them into insights for better health.
Katie Gilmartin, Investment Manager at Foresight Group, said: "We're pleased to back the Regenerus management team at this stage in their journey. The business has a strong position in the functional health diagnostics testing market, improving access and connectivity across the ecosystem through education, scientific rigour and technological innovation. Regenerus has a clear vision for the future of advanced diagnostics, with healthcare professionals at the heart of its model and a strong focus on improving patient outcomes. We look forward to supporting the team as they scale the platform and deepen their impact across the sector."
Throughout the raise and transaction, Regenerus was advised by Bosham Capital Advisors on both the equity and the grant funding.
