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Quotient Diagnostics secures investment, wins award, advances sales


London, 13 July 2009

Quotient Diagnostics, developer of point of care testing for diabetes and other diseases, has recently reported a series of commercial breakthroughs. Its Quo- Test system provides doctors with an on-the-spot reading of an indicator known as A1c, which is vital to check how well diabetics have their condition under control.

The company has now secured a further round of investment (its fifth) to enable it to expand production and accelerate distribution. Quo-Test is now selling in 14 countries in Europe, Asia and Africa.

With the rapid spread of diabetes around the world, clinicians increasingly look to A1c to help them tackle it. Quo-Test is significantly faster, cheaper and simpler to use than the alternative of sending a blood sample away for laboratory analysis. It provides a result in less than 4 minutes, so reducing costs and waiting times.

In view of its growing international presence, the company has looked this time to European sources of equity funding. The new partners in this €1 million round include Succès Europe, a venture fund in Nice, the Milan-based IAG (Italian Angels for Growth), and a Swiss investor. Quotient is the first investment outside Italy for IAG and only the second outside France for Succès Europe.

In recognition of this achievement, Quotient won Deal of the Year Award at the annual conference of the British Business Angels Association held at The Belfry on July 8. The judges cited their innovative approach to cross-border funding at a time when confidence among UK investors has been hard hit.

About Quotient Diagnostics www.quotientdiagnostics.co.uk
The Quotient team combine expertise in biochemistry and instrumentation technology. They have developed a system comprising a low-cost reader and disposable cartridge for the monitoring of diabetes by clinicians at the Point of Care, i.e. in doctors’ surgeries or clinics.

This innovative technology, based on a fluorescence chemistry developed at St Bartholomew’s Hospital, is used to measure the percentage of haemoglobin molecules that are glycated – a test used by clinicians to monitor the treatment of diabetes. Effective management of A1C can reduce the risk of long-term complications in diabetes. Currently most A1C tests require a patient’s blood sample to be sent away for testing at a central laboratory in a time-consuming and costly process.

Quotient has employed advanced electronics and optics to develop a high precision desk-top reader which can match the performance of a laboratory instrument but delivers results to the doctor in a fraction of the time. It combines the simultaneous measurement of absorption and the phenomenon of fluorescence reduction (“quenching”) in one step.

The test is performed in a small disposable cartridge which is read by a compact reader. It detects the subtle changes of fluorescence in the reagent, directly proportional to the degree of glycation in the blood sample. The signal is then converted to an A1C reading, the whole process taking about 4 minutes.

For further information contact Simon Harris - +44 1932 220124 / +44 7976 204855


Publisher Contact Information:

Quotient Diagnostics Ltd
+44 7976 204855
simon.harris@quotientdiagnostics.co.uk

Company profile of Quotient Diagnostics Ltd (acquired by EKF Diagnostics)
Past press releases of Quotient Diagnostics Ltd (acquired by EKF Diagnostics).

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