Cambridge Temperature Concepts Limited (CTC) has secured £375,000 in private investment to aid product development of their novel ovulation detector – DuoFertility. The investment is syndicated between the Cambridge Angels, Cambridge Capital Group, and members of the Downing Enterprise board.
Cambridge Temperature Concepts Limited secures £375,000 in funding to develop novel Ovulat...
Founded in 2005 by four post-graduate students at the University of Cambridge, CTC are now based in new premises at the Cambridge Science Park and plan to complete their development programme over the next four months, with trials beginning in Q2 2008. The first product release of DuoFertility is scheduled for Q3 2008.
One in seven British couples now face problems conceiving, so maximising the chances of natural conception by identifying precisely when ovulation occurs is critical. Ovulation detectors currently available on the market require women to either take a daily urine sample to identify hormonal changes or wake up very early every morning and manually measure and record their body temperature to identify the half-degree change associated with ovulation. CTC’s patent-pending DuoFertility technology continuously measures the most accurate domestic indicator of ovulation - the half-degree change in a woman’s body temperature – to digitally pinpoint this optimum time for conception and thereby assist couples to achieve pregnancy.
Dr. Oriane Chausiaux, Chief Scientific Officer for CTC, explained “DuoFertility is an extremely precise medical thermometer, embedded in a small stick-on patch that can be worn discreetly under the arm. Unlike currently available ovulation detectors that require daily manual readings at set times, DuoFertility automatically collects temperature data every few seconds and a compact digital hand-held reader shows the results whenever desired. We believe DuoFertility will make a dramatic improvement to many couples’ quality of life, increasing their chances of conception by providing a more convenient, accurate and reliable way to identify when ovulation occurs.”
Dr. Jonathan Milner, principal investor for the Cambridge Angels said, "CTC are a dynamic team, developing an innovative new technology with multiple market opportunities. We are delighted to be the lead investors in this seed-funding round and confident that the Company will prove to be a great addition to the Cambridge Angels’ portfolio.”
Cambridge Capital Group said, "We are pleased to participate in this exciting new venture. Our investors were impressed by CTC’s strong business model, which promises to deliver much needed assistance for the many couples who experience difficulty conceiving."
Dr. Shamus Husheer, CEO of Cambridge Temperature Concepts said, “This £375,000 in funding will be used to finalise our product development programme and address the growing market in ovulation detection. In addition to the funding, CTC’s syndicate of private investors provides us with valuable experience in taking new technologies to market and we are delighted to announce this important step towards helping more couples build families.”
Cambridge Temperature Concepts Limited
Cambridge Temperature Concepts are developers of a novel ovulation detector – DuoFertility that improves couples’ chances of conception by providing convenient, accurate and reliable information. Worn as a small stick-on patch under the arm, DuoFertility continuously measures a woman’s body temperature to identify when ovulation occurs and thereby help maximise the chances of conception. Having won business plan competitions at a collegiate, university and national level, CTC is now funded by the Cambridge Angels, Cambridge Capital Group, Downing Enterprise and private investors.
The Cambridge Angels
The Cambridge Angels are a group of high-net worth investors who have proven experience as successful entrepreneurs in technology and bio-technology. Our Members have been responsible for a large number of the ‘Cambridge Phenomenon’ success stories over recent years. Therefore, in addition to providing funding for early-stage companies, the Cambridge Angels also offer start-ups the considerable benefit of a wide range of expertise, contacts and directly relevant experience in establishing and growing entrepreneurial businesses successfully. Early-stage tech / biotech ventures seeking funding in the range of £20,000 - £1m can apply for funding at: www.cambridgeangels.net
Cambridge Capital Group
CCG is a private investor group of 35 entrepreneurs and professionals that supports high-tech start-ups in the main centres of UK technology excellence. CCG Members have been supporting UK technology start-ups for 10 years, with a number of major successes. CCG often co-invest with other specialist angel investors and are supported by four blue chip sponsors. Further detail can be found at www.cambridgecapitalgroup.co.uk
Downing Enterprise is a competition for students of Downing College and those who graduated in the last three years. A group of alumni have put together a fund to provide start-up grants for student business ideas which are selected through an annual competition. The alumni also act as competition judges and mentors to the winning teams. Further detail can be found at http://www.downingcambridge.com/development/projects/downing-enterprise
For more information, please contact:
Cambridge Temperature Concepts
Tel: +44 (0)1223 437007
Fax: +44 (0)1223 437008
Cambridge Angels is a leading UK business angel network with international connections.
We are a collaborative Cambridge-based group, actively mentoring and investing in innovative entrepreneurial teams and their ideas, to achieve returns and help realise their full potential. We have a strong ethos of backing merit and supporting entrepreneurship.
Our members, most of whom are successful entrepreneurs, invest in a wide range of start-up and scale-up businesses with a particular focus on technology, internet, software, hardware, and tools and technologies supporting healthcare.