Mologic snags funding from Calculus Capital

Calculus Capital has invested three million pounds in Mologic. Based in the UK, Mologic is a developer of cutting-edge diagnostic technologies.

PRESS RELEASE

Private equity specialist Calculus Capital has made a multi-million-pound investment in Bedford-based Mologic, a developer of cutting-edge point-of-care diagnostic devices that help patients manage their own conditions.

The £3m investment aims to enable Mologic to commercialise innovative medical diagnostic technology, carry out clinical trials and obtain CE Mark regulatory approval (denoting compliance with European Union standards) and other regulatory approvals as needed in international markets beyond the EU, to take products to market.

Mologic’s diagnostic product pipeline includes revolutionary new systems for patients with long term respiratory problems to use in their own home. The technology has the power to improve quality of life and maintain better lung function through more effective use of medication. The plan is for a series of products to reach market-readiness over the next three years, starting in the first half of 2016. In some cases Mologic will bring the product to market on its own, in others the preferred route will be to strike sales and distribution deals with partner companies already established in the relevant market area.

The common theme in all of the products is their intended use to improve quality of life for patients, while easing pressure on health services and reducing costs for healthcare providers.

In addition to the product pipeline, Mologic conducts a thriving contract research business in a variety of areas (not just medical), including commercial assay development, enzyme therapeutics and pilot manufacturing. Its clients include blue-chip pharmaceutical companies and leading manufacturers of medical devices.

Calculus was attracted to Mologic because of its diverse suite of diagnostic products and the experienced and impressive senior management team, which includes Professor Paul Davis, Chief Scientific Officer and co-founder, who was a co-inventor of the well-known Clear Blue pregnancy test.

Mark Davis, formerly a microbial molecular biologist at Unilever, co-founded the company and is its Chief Executive Officer.

Susan McDonald, Chairman of Calculus Capital, said: “Mologic’s technology is at the forefront of diagnostic innovation, assisting medics to make the decisions that improve quality of life for millions of people. Devices developed by Mologic also enable patients to manage their conditions in the home environment, thereby easing pressure on healthcare providers.

“For example, a tool developed by Mologic allows peritoneal dialysis patients to detect infection before it becomes a problem, working by means of a simple but very sensitive test built into a peritoneal dialysis bag. This allows pre-emptive medication to be taken earlier than would otherwise be possible.

“The Mologic team has a track record of success and the products it currently has at various stages of development show that this is likely to continue. Our investment in the company will enable it to move forward with confidence, accelerate research and development programmes and bring some exceptionally exciting technology to market.

Mologic is involved in a number of contract partnering programmes ranging from diagnostics that support tropical medicine to developing novel recombinant proteins for application in the food supply chain.”

Mologic Chief Executive Mark Davis said: “This £3m investment represents an important step in our development. Calculus Capital’s input gives us the financial muscle to match the weight of innovation at Mologic and we are very pleased to have such forward-thinking investors on board.”

For more information contact Calculus Capital Head of Investor Relations and Communications Madeleine Ingram on 020 7518 8058 or email Madeleine@calculuscapital.com

Calculus Capital is a specialist in creating and managing private equity funds for individuals. A pioneer in the enterprise investment scheme (EIS) space, Calculus launched the UK’s first approved EIS fund in 1999 and has gone on to launch 15 further funds and four VCT offers. Calculus seeks capital appreciation from dynamic, established, private UK companies across a multitude of sectors. Calculus prefers to invest £2m – £5m per company.

As at 30 September 2015, it had £120.5 million of funds under management or advice (including the qualifying assets of the Company).
Calculus Capital’s experienced investment team, diligent investment process and ‘hands on’ approach has resulted in an impressive track record of investment success. Calculus Capital has won multiple awards including the EIS association’s EIS Fund Manager of the Year Award in 2009, 2011 and 2014, and “exit of the year” in 2012 for delivering a 5.3x return for an exit of Scancell – a biotech focusing on cancer immunotherapy.
Calculus Capital is authorised and regulated by the Financial Conduct Authority.

www.Calculuscapital.com

About Mologic:
A developer of diagnostic devices for the healthcare industry, Mologic was founded in 2003 by Mark Davis and Paul Davis. It employs 34 people in total and is focused on delivering innovative solutions to the problems faced by its clients in the life science industry. It has a diverse range of scientific expertise ranging across biotechnology – from recombinant proteins to immuno-technology through to diagnostic device design, development and manufacture. The company prides itself on combining scientific rigour with bold creativity, and, as reflected in its product pipeline, has a strong ambition to see its technology make life better for people.

For more information, visit www.mologic.co.uk