Success stories

Oxford Immunotec

B3 Lifesciencesreport Casestudies

Established: 2002

Country: United Kingdom

Region: Abingdon

Investors: Quester Capital Management, SPARK Ventures, Wellington Partners, Clarus Ventures, New Leaf Venture Partners, Kaiser Permanente Ventures, IP Group

Oxford Immunotec is a world-leading diagnostics company focused on providing single-visit blood tests for tuberculosis, one of the most common infectious diseases which kills over 1.5 million people a year in developed and emerging markets alike1. Quick and accurate testing is crucial to identifying the disease and allowing timely, life-saving treatment. However, many latent infections can go unnoticed and develop in tuberculosis at a later stage, causing complications particularly among the immuno-compromised.

Venture capital investment enabled Abingdon, UK-based Oxford Immunotec to spin out of Oxford University to develop its innovative T-SPOT.TB test. The T-cell technology-based test, which is able to pick up infections that traditional skin testing can miss, is now approved in over 50 countries around the world, with over 20 million tests manufactured to date. The company went public on the Nasdaq in 20132 and was bought by global diagnostics specialist PerkinElmer in 2021 for $591 million3.

IB Oxford Immunotec

Tenzin's story (Video – 03:54)

$154m
raised in VC funding
20m+
tests manufactured by 2020
500
employees in 2017 – up from just 1 at spin out

Key achievements

  • T-Spot.TB tuberculosis test approved for use in over 50 countries globally

  • Over 20m tests manufactured by 2020

  • Acquired by PerkinElmer in 2021 for $591m

Funding history

  • Raised $154m in VC funding4

  • Raised €64m in 2013 Nasdaq IPO5

Employment impact

  • Grew employment from 1 person at spin-out to over 500 employees in 20173

Find out more

Visit website

1. https://www.who.int/news-room/fact-sheets/detail/tuberculosis
2. https://pitchbook.com/newsletter/oxford-immunotec-goes-public
3. https://www.medtechdive.com/news/perkinelmer-buys-oxford-immunotec-591m/593038/
4. Preqin
5. https://innovation.ox.ac.uk/news/oxford-immunotec-raises-64m-nasdaq-ipo/
6. https://www.oxfordimmunotec.com/north-america/company/history/