Prof Denning, Myconostica, funding & testing for lung infections aspergill

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Manchester evening news

Myconostica raises another £1m

Ben Rooth

27/ 5/2008

A BIOTECH business spun out of the University of Manchester today announced

that it has now raised more than £5m to fund the launch of its first products.

Myconostica is developing tests to diagnose life-threatening respiratory

infections, including aspergillus, a common airborne fungus.

The company - which was founded by Prof Denning - has just raised a

further £1m from the UMIP Premier Fund, taking the total raised in recent

months to £5.4m.

The companyis currently in the process of building a new facility in South

Carolina.

Investment fund Amphion Innovations has a 25 per cent stake in Myconostica,

and boss said: " With the close of this successful financing,

we look forward to bringing Myconostica's innovative products to market. "

Myconostica has also announced that Dr Holbrook - who is a manager of

the UMIP Premier Fund - will be joining its board.

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