Biotangents Secures £2.3m Funding for Revolutionary Dairy Farm Diagnostic Technology

Deal News | Nov 28, 2024 | EOS Investment Management Limited (Eos Advisory)

Biotangents Secures £2.3m Funding for Revolutionary Dairy Farm Diagnostic Technology

Biotangents, a Scottish biotechnology company, has successfully secured a £2.3 million investment to advance its innovative diagnostic technology aimed at improving the detection of diseases in dairy cows. This funding round was led by Eos Investment Management Ltd, in partnership with British Business Investments through the Regional Angels Programme, alongside existing supporters Kelvin Capital and Scottish Enterprise. The company’s diagnostic device aims to tackle bovine mastitis, a costly and prevalent issue in the dairy farming industry. Current diagnostics often lead to presumptive treatments with antibiotics, contributing to antimicrobial resistance—a problem Biotangents’ rapid two-hour results aim to alleviate. The technology also promises environmental benefits by reducing milk wastage and unnecessary treatments. Biotangents plans to expand its application for human and environmental health, with on-farm trials scheduled in the UK and internationally next year. Eos' adviser, Nicky Deasy, will join Biotangents' board as the technology nears a full market launch, promising improved herd health and sustainability.

Sectors

  • Agricultural Technology (AgTech)
  • Biotechnology
  • Investment

Geography

  • United Kingdom – Biotangents is a Scottish company and the investment involves UK-based entities, highlighting the significance of the UK in this article.

Industry

  • Agricultural Technology (AgTech) – The article discusses Biotangents' development of a diagnostic device for animal health in the dairy farming industry, indicating its relevance to AgTech.
  • Biotechnology – Biotangents uses biotechnological methods to develop their diagnostic device, placing them within the biotechnology industry sector.
  • Investment – The discussion of an investment round led by Eos Investment Management places the article within the investment industry classification.

Financials

  • £2.3 million – The total investment amount raised by Biotangents in the latest funding round.

Participants

NameRoleTypeDescription
BiotangentsTarget CompanyCompanyA Scottish biotech firm developing a diagnostic device for dairy farming.
Eos Investment Management LimitedLead InvestorCompanyA St Andrews-based investment firm leading the investment round.
British Business InvestmentsInvestorCompanyPart of the investment round through their Regional Angels Programme.
Kelvin CapitalExisting InvestorCompanyAn existing investor in Biotangents participating in the current round.
Scottish EnterpriseExisting InvestorGovernmentA government-funded business and economic development agency participating in the investment.
Fiona MarshallCEOPersonCEO of Biotangents, overseeing company progress and technology deployment.
Jill ArnoldInvestment Relationship DirectorPersonRole at Eos Investment Management, involved in supporting Biotangents' investment.
Nicky DeasySenior Agritech Adviser/Investor DirectorPersonJoining the board on behalf of Eos, bringing expertise in agritech investment.