A group of Bristol-based entrepreneurs has invested £192,500 into a research and development project in the city that is searching for faster diagnosis and treatment of sepsis.
"Once perfected our technology will save lives, save money and save our antibiotics for the future when we really need them."
A group of Bristol-based entrepreneurs has invested £192,500 into a research and development project in the city that is searching for faster diagnosis and treatment of sepsis, which is the number one cause of death worldwide.
Sixteen members of Bristol Private Equity Club (BPEC) have backed GenomeKey, which is carrying out the pioneering research programme in Bristol. The investment will enable GenomeKey to leverage additional grant funding.
The move will create six new jobs over the next few months as GenomeKey ramps up its work at the Future Space Microbiology Laboratories in Bristol.
Michael Roberts, Co-founder and CEO of GenomeKey said: “This local backing is vital for us as it provides match funding for other grant money that will help us solve this global healthcare problem.
“We are developing an automated device that uses Artificial Intelligence for analysis. Our diagnostic device will provide answers within hours, not days. This is important because sepsis kills people very quickly, so faster and targeted treatment can potentially save millions of lives.
“GenomeKey’s device will diagnose bacterial presence using DNA sequencing and novel machine learning to provide clinical results to the clinician within hours. Current techniques that involve growing a culture, can take days and even weeks to provide a result.
“Once perfected our technology will save lives, save money and save our antibiotics for the future when we really need them.
“We expect the research to take between four and five years and this investment brings us closer to securing all the funding needed. Ultimately we expect to develop a benchtop device for hospitals that will replace today’s blood culture.”
“We have already interviewed for two of the new positions and will be appointing soon. The project has been moved to a combination of home-working and on-site research in our biohazard safe laboratories.”
One of the investors, Dr. Johnathan Matlock, chemist and experienced investor in science projects, will join the project as board observer.
Bristol Private Equity Club (BPEC) has now invested around £8m in local start-up and scale-up businesses since it was founded four years ago and now has over 100 members.
Jerry Barnes, who founded BPEC, said: "Sepsis has been named on more death certificates than Covid-19 in the last year. It is fantastic to see pioneering work being carried out in Bristol that could be exported all over the world."
Genomekey joined Future Space earlier this month and are getting their lab ready.
"We will be outfitting our lab with state-of-the-art equipment as we undertake our research in the Future Space labs. The added benefit of Future Space’s business services and network makes this a great place for us to locate and grow our biotechnology team." – Michael Roberts, Co-founder and CEO, Genomekey
Parm Cory-Jones, Centre Manager at Future Space, commented “We are very excited to have Genomekey join our community of Health & Life Science customers. We have been working closely with Chris and Michael to ensure the correct set-up of the lab, and we’re looking forward to supporting them in the development of their work and success.”
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