A group of Bristol-based entrepreneurs has invested £192k into SETsquared Bristol member, GenomeKey, a research and development startup which is searching for faster diagnosis and treatment of sepsis.

Sixteen members of Bristol Private Equity Club (BPEC) have backed GenomeKey, which is carrying out the pioneering research programme in Bristol. The investment will enable GenomeKey to leverage additional grant funding.

The move will create six new jobs over the next few months as GenomeKey ramps up its work at the Future Space Microbiology Laboratories in Stoke Gifford.

Michael Roberts, co-founder and chief executive of GenomeKey, said:

“This local backing is vital for us as it provides match funding for other grant money that will help us solve this global healthcare problem.

“We are developing an automated device that uses Artificial Intelligence for analysis. Our diagnostic device will provide answers within hours, not days. This is important because sepsis kills people very quickly, so faster and targeted treatment can potentially save millions of lives.”

He added: “Once perfected our technology will save lives, save money and save our antibiotics for the future when we really need them.”

One of the investors, Dr Johnathan Matlock, chemist and experienced investor in science projects, will join the project as board observer.

BPEC has now invested about £8m in local startup and scaleup businesses since it was founded four years ago and now has more than 100 members.

Jerry Barnes, who founded BPEC, said: “Sepsis has been named on more death certificates than Covid-19 in the last year. It is fantastic to see pioneering work being carried out in Bristol that could be exported all over the world.

“We have continued to see strong investment by successful entrepreneurs in the area, backing Bristol ideas and innovation.”

All the legal aspects of this investment were handled by SETsquared Bristol Lawyers-in-Residence, VWV.