Bamburgh Capital, the independent corporate finance advisory firm has advised the entrepreneurial management team of Alderley Lighthouse Labs in Cheshire on its £1m fund-raise to scale-up its product development and team.
Alderley Lighthouse Labs (ALL) a laboratory-based testing facility which specialises in human diagnostics has received £800,000 in funding from NPIF – Maven Equity Finance and a further £235,000 investment from venture capital investor Seneca.
With the technology infrastructure already in place, the company now can access new markets to provide testing for oncology and genome sequencing.
Founded by Mark Wigglesworth and Simon Chapman, who both played leading roles in developing and running the government Covid-19 testing facility in Alderley Park during the pandemic, the company provides a comprehensive range of testing services including blood tests, urine tests, and cellular tests, enabling people to improve and sustain their health.
Mark Wigglesworth, chief executive at ALL, added: “We are passionate about deploying the very best diagnostics and using them to support people across the UK. With this investment our laboratory in the North West can continue to grow, providing much needed diagnostic information to patients and support good clinical outcomes.
“It is tremendously exciting to be partnering with experienced investors that share our vison and can help us to accelerate the delivery of diagnostics in a new way.”
“In ALL we saw a unique opportunity to back an impressive team in establishing market-leading provision in a sector simultaneously undergoing change and attracting high levels of investment,” said Victoria Edwards, investment manager at Seneca. “Seneca’s follow on funding alongside Maven demonstrates the progress that Mark and Simon have made and supports this business to establish itself as a key player in diagnostic services.”
Alex Clarkson, Co-founder and Director at Bamburgh Capital said: “Having advised Mark and Simon on the £500,000 investment from Seneca Growth Capital VCT into ALL last year, it was great to be involved in such an important deal for the business, which is now very well-placed to continue its recent impressive growth.”