PhenUtest Completes Seed Fundraising of £3.2m

Bath, UK, 22^nd March 2024

PhenUtest Diagnostics closed its seed funding round in March 2024.

A total of £3.2m was raised from UK and International high-net-worth and angel investors which has enabled significant progress against milestones.

Executive Chairman Guy Reynolds: “We are very grateful for the support of our investors as we develop our diagnostic product to revolutionise UTI care and take a leading role in tackling antimicrobial resistance.”

“With the latest data showing significant increases in resistance to 1st and 2nd line antibiotics, the urgency for good diagnostics to support decision making is rising.”

PhenUtest is developing a revolutionary urinary tract infection (UTI) diagnostic system that will enable swift UTI diagnosis and provide an antimicrobial susceptibility test (AST) result within 60 minutes. UTIs are commonly seen in clinical practice and affect hundreds of millions of people per year worldwide, of which more than 71% are women.