Automata hopes to expand its range of automated products and services.
(Picture: Automata)A London-based life science company that played a role in the UK government’s efforts to ramp up mass Covid-19 testing has raised $50 million (£37 million).
Automata develops robotics designed to automate testing and diagnostic processes in scientific labs, shortening the time it takes to bring life-saving drugs to market.
The company was a key player in the UK government’s efforts to ramp up mass testing capabilities after the onset of Covid, partnering with an NHS foundation trust at University Hospital Southampton to supply robotics for testing facilities at the hospital’s laboratories.
The automated facility delivered faster test turnaround times with improved accuracy compared with standard testing methods.
Automata’s co-founder and CEO Mostafa ElSayed said: “What you’re seeing is a major improvement in time-to-patient response.
“Early in Covid it used to take 7 working days to get your result back -- now, the UK is a world leader with an under-24 hours response.”
Impressed by the rapid adoption of automation in the car industry, he co-founded Automata in 2015 with a view to replicating the same efficiencies in the life sciences sector. The business has grown quickly, partnering with multiple laboratories to improve the speed with which new drugs can be developed.
“It takes on average 6 years to bring a drug through those stages but if you can automate the process… the net result is you can cut down the development of a drug down to 4 years,” ElSayed said.
The series B investment round has been led by Octopus Ventures, London’s Latitude Ventures, Belgium-based Hummingbird Ventures and Swedish-Swiss ABB Technology Ventures.
The company plans to use the funds raised to broaden their range of automation software, increase research into the drug development market and to expand globally, with sights set on the US.
“We’ve managed to attract international capital and London is one of the top 3 or 4 start-up ecosystems for life sciences.” ElSayed said.
The past 12 months have been a bumper year for investment into the life sciences sector in the UK.
Biotech business Autolus received a $250 million investment from US giant Blackstone and London-based Gyroscope received a $60 million investment from French healthcare business Sanofi in November 202, among other deals.
