Mills & Reeve helps IQ Capital lead a £5.3m investment round in Fluidic Analytics

We have advised IQ Capital on its investment in Fluidic Analytics, a University of Cambridge spin-out which is "revolutionising" the field of protein characterisation, as part of a £5.3m Series B fundraising.

Mills & Reeve advised IQ Capital Partners, who led the funding round, also including the Cambridge Enterprise Seed Funds, Parkwalk Advisors, Draper Esprit, Amadeus Capital Partners, and Cambridge Innovation Capital as co-investors. 

Fluidic Analytics is developing products based on new technology for protein characterisation that came from the laboratory of Professor Thomas Knowles at the University of Cambridge. The technology allows proteins to be characterised in a "rapid, accurate and cost-effective manner". 

The company will use the funding to advance its line of laboratory research tools, which are designed to address the key market segments of protein quantitation, quantitative immunoassays and protein-protein interactions. 

Corporate partner Zickie Lim who led the Mills & Reeve team said: “IQ Capital are a long standing client of ours - we helped them set up both their current IQ Capital Fund II and its predecessor, IQ Capital Fund I. We are delighted to see them so actively investing out of their latest fund and particularly in Fluidic Analytics, a local business with an exciting and entrepreneurial management team developing truly disruptive technology.” 

Max Bautin, CEO of IQ Capital Partners said “once again Zickie and her team provided excellent quality commercial and pragmatic support throughout, which enabled us to close this transaction swiftly and simply, notwithstanding the number of investors involved.” 

Max continued “Fluidic Analytics has made exemplary progress over the last 18 months. The strength of the management team and the tremendous opportunities that we believe the company’s technology will open up have all contributed to this investment round being significantly oversubscribed, with IQ Capital and other main investors increasing their stakes. We are delighted with this investment and look forward to a transformative future for Fluidic Analytics.” 

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