Momentum Bioscience's £487k Follow-on Funding Round Cornerstoned By London Business Angels (LBA) & Anthony Clarke

Online, March 28, 2012 (Newswire.com) - Early stage Reading based blood testing specialist Momentum Bioscience has closed a £487k follow on funding round which was cornerstoned by investment of over £185k by existing LBA shareholders, including a circa £20k investment by the LBA EIS Roundtable Syndicate fund 2011. This funding round follows the LBA's seed funding of £230k in September 2011 with the Company having now met its previous funding milestones. The Company is developing a novel and innovative approach for the rapid detection of infection in blood and other normally sterile body fluids and unlike other rapid methods Momentum's technology detects all living bacteria and fungi. The funding will enable the company to further develop its product suite prior to fully launching into the market late 2012/early 2013.

Bill Mullen, CEO of Momentum Bioscience, comments, "Momentum is delighted with the support shown by our LBA and other shareholders and welcomes South East Fund Managers as new investors. The new funds follow successful evaluation of our ETGA technology platform and allow the Company to move toward launch of its first product later in 2012

Anthony Clarke, CEO of Angel Capital Group and Managing Director of London Business Angels, comments, " this is a good example of the continued financial support existing angels can offer to a company which has hit all of its milestones following an earlier seed investment from LBA. The Company continues to be on a steep growth trajectory. My congratulations to Bill Mullen and his team"

About the LBA EIS Approved RoundTable Syndicate Fund

The LBA EIS Approved RoundTable Syndicate Fund is the culmination of 30 years' experience of pioneering innovation in the UK Angel investment market. This FSA regulated HMRC Approved EIS Fund offers LBA Investors an innovative way to acquire a portfolio of investments, while taking advantage of the personal tax relief offered by the Enterprise Investment Scheme. The First £300k LBA EIS RoundTable Fund 2010 was fully invested in January 2011, making four investments in leading edge technologies during the previous year, spread across a range of sectors: Eykona (medtech); Syrinix (cleantech); ipadio (mobile); The Electrospinning Company (nanotech). Following the successful 2010 Fund, the LBA EIS Approved RoundTable Syndicate Fund 2011-12 closed for subscriptions on 13 May 2011, being 40% larger at £420k, and aims to invest in 4-5 deals over the next 12 months. Once fully invested, fundraising will commence for EIS Fund 3 and LBA investors will be invited once again to participate.

For further information on becoming an LBA member or The LBA EIS Approved Roundtable Funds contact [email protected],uk