A consortium of UK investors including Archangel Informal Investment Ltd, Alliance Trust Equity Partners (ATEP), Scottish Enterprise SVF, Foresight 3 VCT plc and TriCapital Ltd have invested £2.4m in Lab901 Limited, the Edinburgh-based developer and manufacturer of automation systems for the life science industry that is used in the screening of swine flu.
Lab901 will use the capital injection to expand sales of its ScreenTape laboratory analysis platform and develop its product range. Its platform is currently used for infectious diseases including screening swine flu. ScreenTape is sold in European countries and throughout the world through a network of 16 distribution partners.
CEO of Archangel Informal Investments, John Waddell said: “In challenging times, it is very encouraging that Archangel investors are continuing to support Scottish companies like Lab901 to help them grow into global businesses. This funding round reflects the dedication of the management team in meeting key milestones and its proven ability to succeed on the global stage.”