Frontier IP PLC (LON:FIPP) said portfolio company Cambridge Raman Imaging has raised £250,000 to help commercialise its innovative graphene-enabled scanning Raman microscope.
Cambridge Raman, a spin-out from the University of Cambridge, is jointly developing the technology with a spin-out from the Politecnico di Milano in Italy.
The investment will support the development of its graphene-based ultrafast laser technology for use in a medical microscope to diagnose and track tumours, and other detection applications.
The microscope will generate real-time digital images of fresh tissue samples using Raman spectroscopy to differentiate between healthy and diseased tissue to show the extent of tumours, their response to drug treatments and to allow surgeons to see if cancer has been completely removed.
It is the first external equity investment in the company and values it at £1.5 million.
Frontier IP’s equity holding is now 25.8% though it said the funding round does not materially impact the carrying book value.
The funding follows a €140,000 grant awarded earlier this year by the EU Graphene Flagship to accelerate the technology’s development.