Finance Wales and Angel CoFund Invest in IMSPEX Diagnostics


Welsh business IMSPEX Diagnostics has turned to equity financing as part of plans to build out point of use devices containing Ion Mobility Spectronomy (IMS).

The company's devices are used for monitory quality control in the food and drink, environmental and fragrance sectors, conducting tests such as determining the quality of biogas or determining whether beers have reach maturity.

Regional backer Finance Wales has been joined by the government-funded Angel CoFund in the £1.4 million deal, with a number of other private investors also contributing.

Santi Dominguez, executive chairman at IMSPEX, comments, 'The successful completion of this financing round in these challenging economic times demonstrates investor confidence in IMSPEX's IMS technology and our growing product range in key markets.

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