A PORTON Down-based company has pulled off a $50million (£31m) deal and announced it is to deliver a leading edge diagnostic system for the massive Chinese healthcare market.
Enigma Diagnostics, based on the Tetricus Science Park, is a world-leader in equipment used to identify infectious diseases, and it has developed the Enigma® Mini Laboratory point of care molecular diagnostic system.
Now it is getting ready to roll out the new system with Beijing Leadman Biochemistry Company.
Beijing Leadman will be Enigma's sole partner for supplying mini laboratories that Enigma designed and built at Porton Down.
The data handling and routing capabilities of the mini labs allow doctors secure remote access to patient data, to help them deliver fast and accurate diagnoses for patients.
It is a double success story for Enigma, which this week announced a $50million subscription agreement with a Chinese equity fund. The money will be used over 18 months to support global commercialisation of the mini laboratory system.
The agreement has been brokered with Chinese private equity fund Shanghai Debay Capital LLP.
It's yet not known if it will create new jobs in the area.
John McKinley, chairman of Enigma Diagnostics said: "The Beijing Leadman agreement is central to Enigma's global commercialisation plans and, in particular, to its intended leadership of China's Point-of-Care (PoC) market.
The joint venture will deliver an exclusive China market sales distribution, a new Chinese based R&D program using Enigma technology and know-how, and, in the longer term, a manufacturing capability to satisfy the expected high level of demand for our flagship ML system and assays in China and worldwide.
“The new investment recognises Enigma's potential to be the leading force in global PoC testing."
Enigma was founded in 2004 as a private public partnership. The shareholders are UK Government (Dstl) and private venture capitalist, Porton Capital Technology Fund.
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