UK-based medical diagnostic company with a unique screening technology for the detection of drugs using the sweat of a fingerprint. Non-invasive sample collection takes less than a minute, and results are obtained at the point of care in under ten minutes. The platform uses proprietary lateral flow technology and customized imaging detection hardware and has 16 patent families. The technology is primarily aimed at the worldwide Drugs of Abuse testing market. The current product line-up was introduced last year, and generated £507K revenue in 2019. The current run-rate is £1.6M (as of Jan 2020) with a forecast of £2.5M for the year. Positive EBITDA is projected at £4.3M in revenue (2021).

The company is the only provider of fingerprint testing for drugs of abuse worldwide (safe, non-invasive, and dignified), with a highly scalable technology operation focused on a “razor/razorblade” model with a high gross margin consumable. The proprietary platform is uniquely suited for medical diagnostic applications. Further developments into diverse areas of medical diagnostics are planned to access the Global Point of Care market with a forecast value of $31.3Bn and a CAGR of 10% (source: markets & markets.com).

Capital will be used to fund U.S. sales launch, FDA approval for workplace testing, targeted international sales growth, new product development, and manufacturing scale up.