Quotient Diagnostics secures further round of investment

Quotient Diagnostics has recently reported (July 2009) a series of commercial breakthroughs. The company has now secured a further round of investment to enable it to expand production and accelerate distribution. Quo-Test is now selling in 14 countries in Europe, Asia and Africa.

In view of its growing international presence, the company looked this time to European sources of equity funding. The 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.