[Funding alert] UK-based PulmoBioMed Secures £1.4Million in Funding
Feb 9, 2024 | By Team SR
UK-based PulmoBioMed secures £1.4million in funding. Northumbria University, SFC Capital, and private investors from the US, EU, and UK were among the participants in the round, which was headed by North East Venture Fund and administered by Mercia Ventures.
The company, which also received a £700K grant from Innovate UK, plans to move from the university to new premises in Newcastle's city centre and create seven new jobs in the upcoming year. It also plans to use the funds to develop a manufacturing process to scale up production and register its product in the US.
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Under the direction of CEO and founder Sterghios Moschos, PulmoBioMed offers non-invasive breath sampling equipment that allows for the collection of lung fluid samples free from oral fluid contamination.
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As the patient exhales, the PBM-HALE, a hand-held gadget, records their breath. Next, it distinguishes between fine droplets that originate from the deep lung and large aerosol droplets that originate from the mouth.
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According to clinical research, in 100% of symptomatic cases, it could give uncontaminated deep lung samples in as little as two minutes, aiding in the detection and measurement of lung infections and inflammation.
Sterghios Moschos said “PulmoBioMed was founded during the pandemic to address the need for reliable breath-based diagnostics. We have solved fundamental problems to enable quick and non-invasive deep lung sampling, with minimal training, and as frequently as necessary. Over 300 million asthma patients suffer slow diagnosis and millions of others are hospitalised every year with pneumonias that are impossible to diagnose with current tests. By helping clinicians understand their patient’s disease and select treatments that work, PBM-HALE has the potential to transform respiratory care.”
About PulmoBioMed
Modern exhaled breath condensate and aerosol sampling equipment is marketed by PulmoBioMed as a component of a platform for environmental and medical diagnostics. PBM-HALE, their flagship product, is a passive fluid aerosol sampler designed to separate ambient and exhaled particles according to size.
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