Compandia Ltd, a new bioscience company launched by Nottingham Trent University, has raised £340k to continue development of services that aim to save the healthcare system millions of pounds.

The company received £265k from the Lachesis fund and £75k from the Mobius Life Sciences fund. The funding will support the development of analytical and bioinformatics services to help improve the efficiency and speed of expensive drug development and clinical trials.

Andy Sutton, CEO of Compandia, was originally introduced to the company as a coach on the Connect Midlands Green Stream programme. Commenting on the support the company had received whilst preparing for investment, Mr. Sutton said; “We would like to thank Connect Midlands for their excellent assistance, firstly without which we could not have started Compandia and secondly support with transaction fess which are one of the most expensive items of our set up costs.”

Paul Jenkinson, Regional Manager for Connect Midlands added; “I would like to congratulate Compandia on raising this funding and wish them well with developing the business and their next funding round”