Dublin-based company Biosensia, which develops diagnostics products, has raised €1.2m in new funding.
The funding round was led by ACT Venture Capital, through its AIB Start-up Accelerator Fund, and included existing investors Seroba BioVentures and Atlantic Bridge.
Biosensia plans to use the funds to secure regulatory approval for its products in Europe and the US and advance its commercial partnership strategy.
The company, which is headquartered at NovaUCD, currently employs five people and intends to increase staff numbers to 15 by 2013 as part of its strategy.
It says its RapiPlex platform can perform up to 12 separate analyses simultaneously on a single sample and provides test results in as little as five minutes.
