New CFO as Sense Biodetection scales
Global molecular diagnostics innovator Sense Biodetection – with operations in Cambridge, Oxford and Boston US – has hired a new CFO as it scales product and ambition.
Michael Jones has over 25 years of finance experience across several industries including medical devices, software, global manufacturing, internet and telecoms.
The appointment coincides with the company’s initial commercialisation of the Veros™ rapid, instrument-free molecular platform. The CE marked Veros COVID-19 test, the first on the platform, provides healthcare professionals with lab quality, point of care molecular results in about 15 minutes without an auxiliary machine or reader.
Most recently Jones held the position of VP of Finance at Cytek Biosciences where he led the company through a successful IPO in July. Hitachi, Yahoo and Nortel Networks also figure on his CV.
Sense Biodetection raised $50 million in a Series B round led by Koch Disruptive Technologies last year.The Series B round included participation from Sense’s existing investors Cambridge Innovation Capital, Earlybird Health, Cambridge entrepreneur Jonathan Milner and Mercia Asset Management.
The funds will advance commercialisation of the company’s Veros™ COVID-19 product and continue development of a portfolio of instrument-free, rapid molecular tests that enable improved access, outcomes, and value through patient-focused decentralised healthcare.
Sense Biodetection has operations in Cambridge and Oxford UK and Boston in the US.
Sense’s Veros product platform ushers in a pioneering new class of molecular diagnostic test that brings the performance of central laboratory PCR testing into a rapid, easy-to-use, disposable format.
On raising the Series B cash, Sense CEO Harry Lamble said: “This Series B round is crucial in providing us with the resources to grow our Veros platform to revolutionise decentralised point-of-care testing; and it is particularly important as we commercialise our Veros COVID-19 test, which delivers laboratory quality results directly to users within minutes, without an instrument.