Advising is in the blood of Birmingham law firm
A NEW medical diagnostic company that could transform blood testing – making it faster, cheaper and more effective – has been created with the merger of three firms in a deal part-advised out of Birmingham.
L3 Technology, Jupiter Diagnostics and SuperNova Diagnostics have joined forces under the umbrella of Jupiter Diagnostics Holding Company, which will enable the partners to use their complementary technologies to achieve faster blood testing leading to earlier diagnosis and quicker treatment of diseases.
Gregory Emms and Ruth Murday, of Birmingham-based Emms Gilmore Liberson advised London-based Jupiter on the £1.6m investment, which will allow the company to hire six new employees, finalise development of its technology and bring its first products to market.
Director Greg Emms said: “In a transaction of this nature it is always a challenge to align all the interests of existing shareholders and new investors, particularly as in this case where there was a mix of funds and business angels.
“We worked closely with Jupiter throughout the lengthy negotiations and were thrilled to complete the investment for the company, allowing it to develop its first products.”
Dr Chris Ball, CEO of Jupiter, said by combining two proprietary chemistries, it had been able to reduce significantly the cost and complexity of blood testing, while delivering similar performance to the laboratory across a broad range of tests.
“Having worked as a doctor, I have first-hand experience of the delays in obtaining blood test results and the impact on patient care,” said Dr Ball.
“Bringing these technologies together will allow us to provide rapid access to accurate blood testing outside hospital which could transform the delivery of healthcare.”
Dr Ball added that current demands on the health systems meant his company’s new approach will allow routine blood testing to be carried out in doctors’ surgeries, pharmacies or even at home and so lead to faster diagnosis, earlier treatment of diseases and cost-savings.