The Liverpool office of Hill Dickinson has acted on behalf of Biofortuna Limited to secure a £1.3 million investment as part of its expansion within the molecular diagnostic product market.

Led by Craig Scott, Partner and Richard McKay, Legal Director, the Corporate team advised the molecular diagnostics company during its fourth round of investment. The new funds will enable Wirral-based Biofortuna to expand its freeze drying analysis and manufacturing capability to support both its custom service clients as well as the USA launch of its SSPGo HLA range of products.

The freeze-dried molecular diagnostic products developed by Biofortuna are offered on a custom service basis to global clients with specific products targeted at the transplantation market, with other easy-to-use diagnostic tests being developed to enable increased laboratory productivity and improved quality in clinical testing and patient care.

The funding was supported by all the Company’s current investors; the Foresight Group (UK), EV Group, Catapult Venture Managers, Merseyside Special Investment Fund, private investors and management.

During the expedited process, Hill Dickinson negotiated and agreed the investment documentation within a week of being instructed to ensure the successful completion of the £1.3 million investment.