Acrongenomics participates in Molecular Vision's 2 million GBP funding round

Acrongenomics, Inc. (OTCBB:AGNM) are pleased to announce that they have continued their support to Molecular Vision, an emerging developer of quantitative point-of-care (POC) diagnostic devices, by participating in its 2 million GBP funding round. Imperial Innovations Group plc (AIM: IVO, 'Imperial Innovations'), a leading technology commercialisation and investment company, led the £2 million funding round by committing £1.5 million.

This takes the amount raised to date by Molecular Vision to £3.2 million. Acrongenomics maintained its status as one of the two major shareholders in Molecular Vision, with approximately 18% ownership on a fully diluted basis.

Molecular Vision, which was spun out of Imperial Innovations, is developing a line of low-cost disposable devices for medical testing that will greatly extend the diagnostic tools available to the general practitioner. By enabling on-the-spot diagnosis, Molecular Vision's technology could reduce the need for patients to make repeat visits, accelerate treatment, free up clinician time and lower treatment costs.

Molecular Vision's patented technology has great potential in other markets including veterinary medicine, forensic science, environmental monitoring and military applications.

The company has recently begun a major research collaboration with a global cosmetic company.

Plato Tzouvalis, our president said, ”We once again showed our level of comitment by supporting Molecular Vision financially. We are confident that the investment we have made in Molecular Vision will help them to move forward and commercialize their novel technology by bringing highly advanced point of care solutions to professionals and individuals.”

Source: Acrongenomics, Inc.